How to Price a Construction Tender: A Guide for Junior Estimators

What is a Schedule of Quantities (SoQ) and Why is it important?

You are an estimator in a construction company. You have a junior estimatorassisting you, Jeff, who has just joined the company. The company has been informed that it will be invited to tender for a house project, tender information will be available in a couple of weeks and tender documents will contain a schedule of quantities (SoQ).This will be the junior’s first tender, so you need to explain aspects of pricing a tender to him. Jeff has prepared a list of questions for a meeting with you in themorning and you are required to prepare answers for these.Answer each question as fully as possible and expand on anything that is likely to be confusing to a junior.a) Explain what an SoQ is and the importance of preparing an estimateb) What are the three methods available for sourcing rates for inclusion in an SoQ? Explain each method.c) What are the three common types of estimates? Explain the differences between them?