Low bid
A contract awarded to the contractor who submits the lowest price meeting project requirements.
The low bid is the lowest price offered by a contractor, often a key criterion in traditional procurement methods but may not always ensure the best quality or service.
Used in a sentence
Selecting the low bid can be risky if quality or service is compromised in the process.
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The Construction Bid Interview & Follow-up: Closing the Deal
During construction project bidding, the interview is often the last part of the request for proposal (RFP) process and one of the most influential. For teams that advance to the shortlist, the interview is the final opportunity to make a strong impression — and an important step in turning a pursuit into a project. This […]
Construction Business Development: Tracking and Winning the Right Opportunities
Construction business development isn’t just a response to deadlines: It’s a long-term strategy rooted in focus, visibility and timing. Delays, funding gaps and market pressure have made it harder to predict which pursuits will move forward and which will disappear after award. At the same time, clients expect more from their GC partners: earlier involvement, […]
Qualifications-Based Selection: Prioritizing Expertise over Initial Cost
For large or complex construction projects, owners and public agencies often use qualifications-based selection (QBS) to prioritize experience and capability over merely selecting the lowest bid. QBS involves owners choosing architectural and construction firms that are most qualified for the work based on their relevant experience, track record of success and proposed approach to the […]
Understanding Subcontractor Bid Packages in Construction
Construction bid packages can have a cascading impact on the success of a construction project. The quality of a bid project may affect the quality of the bids, which in turn can impact the project budget and the final outcomes of the work. This article will discuss the importance of bid packages in the contractor-subcontractor […]
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