Whereas lump-sum bids involve calculating a single final price and assembling a list of subtrades, with a unit-price bid, the contractor is also required to complete a "_______", that is, an itemized breakdown of the work of the project.
A)Bid Drawing
B)Estimate File
C)Pre-bid
D)Schedule of Prices

Question

Quizplus · Accepted Answer

A schedule of prices is an itemized breakdown of the work to be done in a unit-price bid. This breakdown includes quantities of materials, labor rates, equipment expenses, and other costs associated with specific tasks or activities. It provides a detailed cost breakdown that helps the contractor and the client to monitor progress and identify areas of concern throughout the project.

Whereas Lump-Sum Bids Involve Calculating a Single Final Price and Assembling