To determine the price to charge for the project, the contractor should
A) estimate the costs at a detailed level to make the most accurate estimate.
B) add in extra amounts to overprice the project and make an extra profit.
C) cut the estimates to a small profit to show how much less expensive the contractor is than other bidders.
D) use the same prices as the actual costs of projects that were similar in duration.

Question

Quizplus · Accepted Answer

The best choice is to estimate the costs at a detailed level to make the most accurate estimate. This will help the contractor ensure that they are charging a fair and reasonable price for their services, while also taking into account all of the costs associated with the project. Overpricing or underpricing may result in losing the bid or not making enough profit, respectively. Using prices from past projects may not reflect the current market conditions and may not take into account any changes to the scope or complexity of the project.

To Determine the Price to Charge for the Project, the Contractor