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How To Avoid Getting Trapped In Bid Prices

January 17, 2024

Save yourself from getting trapped in bid prices without correct production tasks by naming your estimate as a BALLPARK BID. Your costs can be listed as menu options instead of included in your total. “Costs may change depending on the information provided.” All the ways to be as accurate as you can with the information you’ve been given. 

When bidding on projects with incomplete information, it is advisable to make ballpark bids to protect oneself from potential changes in costs. The use of TBD (to be determined) for uncertain details such as usage, and menuing out all possible options, can help emphasize that there may be fees associated with certain aspects of the project. It is important to make it clear that all estimates and bids are subject to change depending on new information and to avoid trapping oneself into fixed prices. The use of clear language in emails and estimates can help ensure that there are no misunderstandings or surprises later on.