Your company is very keen on winning a job for which you submitted a bid of...
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Your company is very keen on winning a job for which you submitted a bid of 550 lakh. Your cost estimate for the job is about 500 lakh. After the bid opening, your company and two others are selected for final negotiation with the owner. At the meeting, you are asked if you are willing to reduce your final bid. You are also told that there is a high chance of additional work being added, in the order of about 20 per cent of the original volume of work. Based on this information, how much will you go down in your bid? Your company is very keen on winning a job for which you submitted a bid of 550 lakh. Your cost estimate for the job is about 500 lakh. After the bid opening, your company and two others are selected for final negotiation with the owner. At the meeting, you are asked if you are willing to reduce your final bid. You are also told that there is a high chance of additional work being added, in the order of about 20 per cent of the original volume of work. Based on this information, how much will you go down in your bid?
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Based on the information provided lets calculate the potential adjustment to the bid 1 The original ... View the full answer
Related Book For
Management Accounting
ISBN: 9780730369387
4th Edition
Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer, Vijaya Murthy, Nick Pawsey
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