You can review and modify the bid values and bid rates, as calculated by the WBS calculation. You can, for example, compare the bid value with the calculated markup.
You can change the bid value in these ways:
Name | Responsible | Description |
---|---|---|
Add contingency |
Project manager |
To each task, you can add a contingency. A contingency is an additional value on top of the calculated value, without adding an extra estimate line to a task. You can also use the contingency to, for example, add a risk or a margin. The relevant calculations are:
|
Calculate index |
Project manager |
To each work breakdown structure line, you can apply an index. If you apply an index to a project line or to a task with sub-tasks, the index is applied to all underlying tasks. An index is an additional percentage on top of the calculated value, without adding an extra estimate line to a task. You can also use the index to, for example, add a risk or a margin. The relevant calculations are:
The index is applied to the sum of the Calculated value and the Contingency. Example: Calculated value=100, Contingency=20, Index=10%. The 10% index is applied to 120. So, the bid value is 132. If already an index is applied to a task, an additional index considers the already available index. |
Review bid rate and bid value |
Project manager |
WBS calculation updates the bid rate and bid value for each task. The relevant calculations are:
You can manually change the bid rate and bid value. If you do so, these are automatically locked. If the bid rate and bid value are locked and you run the WBS calculation:
You can unlock the bid rate. To do so, on the Advanced WBS page, on the calculation fast tab, clear the Lock bid rate check box. |