Introduction to Estimating and Bidding
This two-day workshop will teach DBEs how to bid on projects with MnDOT times, dates and places. Day one will be more of an overview and day two will focus on obtaining work responsibly. Note: for certified DBEs only.
Day 1 - Getting Started
- An overview of typical insurance and bonding requirements and how to budget into estimates
- Understanding of project cash flow demands, bank expectations, and how to determine the maximum size project that a company should take
- The importance of complete and accurate estimates. Business resources needed to be put towards estimating.
- How state and county agencies solicit proposals. How to locate RFPs and job opportunities.
- The five cost categories: labor, equipment, material, subcontractor and overhead
- The separation between profit and cost components
Day 2 - Obtaining work responsibly
- Preparing a project scope
- Quote solicitation
- Estimate preparation, software and tools
- Usage of historic data
- Electronic estimating and submission
- How to submit a bid using MnDOT guide to bidding and hard copy bids
- Electronic estimating and submission through bid express tools
Don't forget to bring a calculator and an engineering scale with you.