Abstract
This chapter begins the examination of risk and uncertainty in the preparation of estimates and tenders for construction projects. There are two major problems involved:
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1.
Will the contractor’s tender be low enough to be accepted by the client?
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2.
If accepted, will the eventual financial position of the project on completion be acceptably close to the forecasts made in the tender?
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© 1995 A.J. Smith
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Smith, A.J. (1995). Risk and Uncertainty in Estimating and Tendering. In: Estimating, Tendering and Bidding for Construction. Macmillan Building and Surveying Series. Palgrave, London. https://doi.org/10.1007/978-1-349-13630-8_12
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DOI: https://doi.org/10.1007/978-1-349-13630-8_12
Publisher Name: Palgrave, London
Print ISBN: 978-1-349-13632-2
Online ISBN: 978-1-349-13630-8
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