This process deals with the initial assignment of job cost estimates, identifying bid items/packages, prequalifying vendors, analyzing bids, contract buyout to contract execution.
CMiC's Approach to Estimate to Subcontract/Purchase Order:
- Original Estimate (Cost Budget) is identified and populated by the import of estimate into the bid items.
- Vendor Prequalification allows for the search of the database for vendors matching the selection criteria to populate a list of potential bidders
- Potential bidders are analyzed, based on a review of the Vendor Prequalification information. New bidders can be added to the database and CMiC can be used to choose and invite bidders for various bid packages
- Subcontractors can enter their responses to the ITB using CMiC Collaboration Management
- Responses are analyzed and the determination of project partners can be determined
Major Efficiency Improvements:
- Reduced time needed for interaction with the buyout report
- Time saved creating job cost structure from estimate
- Reduced time needed to prepare bid packages and bid analysis
- Ability to record and store documents in a single database
- Branded collaboration tool that includes vendor prequalification, drawings, communications, subcontractor on-line bid entry and upcoming project notification
Risk Mitigation:- Elimination of multiple data entry points between systems
- Documents recorded once in system
- Provides an audit trail for budget control with the ability to lock original budget and add changes via transactions
