Estimating Practice Exam

How does an estimator typically handle incorrect subcontractor bids?

1. Negotiate new terms

2. Prepare estimates quickly based on available data

3. Request third-party evaluations

4. Ignore the bids

The correct answer is: Prepare estimates quickly based on available data

The answer indicates that an estimator prepares estimates quickly based on available data. This approach reflects a common practice in the industry where, when faced with incorrect subcontractor bids, an estimator may quickly revisit the estimates using the most reliable and up-to-date information at hand. The existence of errors or discrepancies in bids can lead to rapid adjustments in project or cost assessments to ensure that the bidding process remains on track, and the overall project can still proceed within the desired timeline. While negotiation of new terms or third-party evaluations might be valid strategies in some contexts, they are typically more time-consuming and may not be the immediate response when faced with incorrect bids. Ignoring bids would not be a prudent approach as it could lead to further complications in the project planning process. Instead, leveraging existing data allows for a more efficient response to the situation and supports the overall project management goals.