Decision resources as to perpetuate the projects in

Decision on the job to bidMarvin got 10 years of duration and has higher payments than past contracts he is havingFactors for Benefits to bid are;Increase in company profile, Increase of the company financial rates, Expenses hires can be changed by Budget.  Growth  of company network.Making the bid or no-bid decision number of factors are to be considered as to make an objective decision than taking an subjective decision. Different numerous factors has to be considered as to make and objective decison to subjective.Some of the factors are;Profitability:  In First place if there is no profit there is no business in bidding. To estimate the job costs accurately make sure the accounts should be accurate and comprehensive from annual labor and equipment costs. Make sure to include the Taxes, Insurance and worker’s compensation, vacation pay before calculating the labor costs and the tools and equipment and additional benefits for providing the employees.The cost of competing the project and considering the variables is determined by the contract requirments, location constructions. Profits are determined by submitting the winning bid.Determining Capability: Ascertain the company if you want to make some money on the project and if you are capable of doing the work and make sure the manpower, equipment and enough staff and   other resources as to perpetuate the projects in the given tim  line and that needs to be commenced and completed.without jeopardizing any of other obligations make sure you need to assure financially that you are capable of building the project so that you can show you have bonding capacity and adequate cash flow for performing the work.Analyzing Historic data: Keep the record of all the bids including the successful ones and unsuccessful in order to secure the better bids and to influence more work. Feedback is valuable and never hesitant to ask for one after the process of bidding is concluded. To complete the project under budjet need to verify that if you underperform or if you manage successfully or to improve the productivity identify the areas to develop. Bids can be identified better if you analyze the historical data and should be going after.Assessment of the Risk: Potential risks to be carefully classified before bidding a project and documents for bidding, stipulations and plans for the project depends on the historical data from the similar projects as to identify the risks and the common risks that include the deficient construction documents, accelerated timelines, unknown site conditions and safety concerns.Bid or not resolution depends on the grading mixture and threshold score factors. The decision on future projects to pursue depends by taking the data-driven approach for smart and informed decisions.Strategy for Long-Term: Considering the goals of the company whether not to project and are looking to bid depends on the long-term strategy and goals of the company. You need to start tackling the more private work as you look to maintain current level and grow the business or you need to start tackling the more private work or on large projects like Hotels. Identifying the projects that align with the work is most important than what’s your company’s long-term strategies are.References: Text books: Project management (eleventh edition) by HAROLD R.KERZNER, PhDhttps://www.constructconnect.com/blog/operating-insights/key-factors-consider-bidno-bid-decision-making/TO BID OR NOT TO BID: A FRAMEWORK FOR CONTRACTOR DECISION MAKING https://eprints.qut.edu.au/82801/4/Ziad_Albasir_Thesis.pdf

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