Construction Company Evaluation by a Customer
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FAQ
Here are some great tips on how to keep your clients happy and satisfied. Always think quality. Strive to exceed your customer's expectations at all times. Deliver on time. Keep the dialogue open. Talk in layman's terms. Offer free services. What are the benefits of good customer service?
Compile all vendor offers into one document (excel sheet of some other document). List down all the requirements of MR& Specifications. Attach all the Technical Queries, Justification letters, Deviation & Clarification lists. All vendor deviations to be approved by the Client.
Your bid should include a clear breakdown of the quantity of materials that need to be purchased so that you know exactly how much you will pay for this expenditure. For example, a transparent bid might specify a certain number of sheets of plywood, a specific square footage of carpet or how many gallons of paint.
Compare like with like. Overall cost is not a fair way to compare bids. Determine the level of detail in each bid. The more detail a bid has the more accurate it will be. Be watchful of allowances. Don't make assumptions. Ancillary items: who included what?
What are the Main Valuation Methods? When valuing a company as a going concern, there are three main valuation methods used by industry practitioners: (1) DCF analysis, (2) comparable company analysis, and (3) precedent transactions.
Asset-based valuation is the most objective way to assess the worth of a business. It is the market value of all assets minus all liabilities. Construction companies with significant equipment and facilities often use this valuation method.
For owners, choosing the right contractors on your project can be a tough choice. Does the price adequately reflect the scope of work? Is the proposal detailed and shows an understanding of the work needed? Is the proposal relatively error and omission free? Credentials, References and Certifications.
Explain the plan and set expectations. Prepare yourself and your construction workers. Listen to them. Dig a little deeper. Don't argue. Apologize (but remain strong) Improve task management and follow up. Use construction management software.
Bid evaluation is the process that takes place after the tender submission deadline.It involves the opening and examining of the bids to identify the preferred supplier(s) for the project. Negotiations may then be entered into with one or more suppliers, and the successful supplier awarded the contract.
