Cmg3001 Building And Construction Procurement- Assessment Answer
Task:
1. outline the need for construction estimation and tendering procedures.
2. use common measurement and estimating procedures to estimate building and construction works, including preliminary works, overheads, and profits.
3. evaluate decision to tender, source prices, evaluate quotations and tenders submitted by subcontractors and contractors.
4. Prepare, to a professional standard, technical reports in English having good structure and format, high standards of spelling, grammar and punctuation, and appropriate and adequate technical content.
Given this scenario, answer the following questions:
1. Determine the minimum construction contract price that the contractor is willing to accept for the project.
2. How would this number (the calculated contract price) change if the interest rate changed to 2% for the first 6 months and 3% for the remainder of the project?
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