Capital Projects / Projects

Comparing Bids to Cost Estimates

After the vendor bids have been entered for work packages, you have to decide which bid to accept. One way to analyze bids is to review the Variances - Bids to Baseline and Design report.

You can access this report in either of these ways:

• Clicking the Projects / Procure/Review Variances - Bids to Baseline and Design task.
• Clicking the Projects / Procure / Management Console: Procure Select a project, and then selecting the Bid to Design Variance tab.

This task provides you with a two-level report on the variance between the bid and the baseline cost and duration estimates and the design cost and duration estimates.

• Summary of variances at the work package level: The initial Review Variances - Bids to Baseline and Design view is a summary of variances that displays information at the work package level. This view contains fields with clickable links. When you click a field, a new window opens to display the second-level detail view.
• Variances at the action level: When you click a link in the summary for the work package level, a new window opens to display the variance data at the action level.

For information on defining baseline schedules and baseline costs, see the Estimating Baseline Schedules and Costs topic.

For information on defining design schedules and design costs, see the Estimating Design Schedules and Estimating Design Costs topics.

The Review Variances - Bids to Baseline and Design report uses the Web Central view analysis feature that enables you to drill down to detail views. For more information, see the Working with View Analysis Views topic.