Estimating Practice Exam

The last stage in the preparation of a unit-price bid is to ____.

1. Submit the proposal

2. Complete the bid form

3. Calculate final costs

4. Review estimates

The correct answer is: Complete the bid form

Completing the bid form is indeed the final stage in the preparation of a unit-price bid. This step is crucial because the bid form acts as the official document that outlines the financial proposal presented to the client or project owner. It summarizes all relevant costs associated with the project, including labor, materials, and overhead, allowing for a straightforward comparison with other bids. Before reaching this stage, extensive calculations and reviews typically occur, where costs are estimated and validated to ensure accuracy. However, the completion of the bid form formalizes these estimates, providing a structured and comprehensive proposal that encapsulates all calculations, allowing decision-makers to assess the bid effectively. This is essential for transitioning from estimation to formal submission, making it the last step in the process.