Fixed Price Tendering | Services| Timcon Construction Ltd

By: Timcon  09-12-2011

Fixed Price tendering is the traditional method of construction delivery. The owner engages the services of Architectural and Engineering Consultants to
prepare a set of working drawings and specifications. When the drawings are completed, competitive bids are called. The successful contractor will typically be the one with the lowest lump sum or fixed price bid. The bid is then reviewed by the owner and the consultants who in turn recommend the contact award.
The owner and Timcon Construction enter into a stipulated price contract then construction begins.

Advantages

  • Price known prior to start of construction
  • Contractor retains risk of cost escalation during construction

Disadvantages

  • Longer time frame from conception to completion
  • Cost savings and ability to make changes are considerably reduced with completed drawings.


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Cost Plus or Open Book Construction | Services| Timcon Construction Ltd

Cost plus or open book arrangements are most often used where the full scope of the work is unclear due to possible concealed conditions such as renovation projects, difficult site or subsurface conditions and other types of unknown or undefined scope of work.


09-12-2011

Project Management | Services| Timcon Construction Ltd

This allows us to not only stay on top of the construction, but to anticipate and plan for any potential challenges that could face the project. Throughout the course of the project, computer updates for schedules and costing are completed on a monthly basis. The scope of the work, project schedule and budget are all established with the client. Once the deliverables are mapped out.


09-12-2011

Services| Timcon Construction Ltd. | Red Deer, Alberta

Construction management joins the Owner and user groups with the Architect, Design Engineers and Timcon Construction together with the common objective of designing and building a facility that meets and exceeds all of the program and functional requirements within the shortest time for the best value within the prescribed budget limitations.