VBI-Shop Selection of Contractors First, Edition 2017
Proposed Alternative Mechanism to Award Construction Works Contracts.
The current Low Bid method that prevails through most of the world, is to select the construction contractor with the lowest price. Under the Low Bid method the client/owners run the significantrisk of selecting a contractor that has either accidently or deliberately submitted an unrealistic price.
To address this challenge FIDIC has developped this Guideline which describes a range of best practices that clients can consider implementing according to their individual circumstances and national regulations, including; Prequalification and Shortlisting, Lowest Workable Cost Approach, Cost and Quality Approach, Quality Approach.
DIN A 4 brochure, 7 pages.