Remove Agreement Remove Bidding Remove BIM Remove Negotiation
article thumbnail

Job Order Contracting – 2015

Building Information Management

If a task is not in the UPB, it can be negotiated, priced and added at any time to the book. Contractors can be selected based on best-value or low bid, depending upon the owner’s requirements. A JOC contract follows certain procedures leading to an agreement focusing on achieving good work performance and reasonable costs.

article thumbnail

A glossary of terms with reference to Construction Cost Estimating

Construction Cost Estimating

It also (ideally) details the terms and conditions of the construction or repair contract and itemises all work to enable a contractor to price the work for which he or she is bidding. In VDC (BIM is one method) the modeling consists of the usual three dimensions, plus the time dimension and the cost dimension.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

General Overview - Construction Cost Estimating Blog

Construction Cost Estimating

Under IAS 11, if a contract addresses two or more assets, the construction of each asset reported for individually if (a) separate proposals were submitted for each asset, (b) portions of the contract regarding each asset were negotiated independently, and (c) costs and revenues of each asset can be evaluated. k) Form of Agreement.

article thumbnail

A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

00 11 13 Advertisement for Bids. 00 11 16 Invitation to Bid. 00 24 13 Scopes of Bids. Scopes of Bids (Multiple Contracts). Scopes of Bids (Multiple-Prime Contract). 00 25 13 Pre-Bid Meetings. 00 41 00 Bid Forms. 00 41 13 Bid Form – Stipulated Sum (Single-Prime Contract). Requirements.

article thumbnail

A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

00 11 13 Advertisement for Bids. 00 11 16 Invitation to Bid. 00 24 13 Scopes of Bids. Scopes of Bids (Multiple Contracts). Scopes of Bids (Multiple-Prime Contract). 00 25 13 Pre-Bid Meetings. 00 41 00 Bid Forms. 00 41 13 Bid Form – Stipulated Sum (Single-Prime Contract). Requirements.