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More Accurate and Faster Decisions
A Bill of Materials allows you to compare ‘apples with apples’. When there is so much detail to consider, a Bill of Materials allows you to easily determine who is competitive and who is not.
If you need the best value for money while not compromising quality, then you must use a Bill of Materials.
Smarter Decisions with a Bill of Materials
Tendering a project to several suppliers or sub-contractors can get complicated. You need to determine who not only has the best price, but also who has the capability and skills to perform the job accurately and professionally on time.
When you request quotes from sub-contractors or suppliers, the best way to do this is to use a Bill of Materials. This is a detailed list of each item or service required to fulfill their scope.
If you don’t itemize the materials and services and ask each supplier to price accordingly, when you receive prices back it will be impossible to determine who has the best price.
A Bill of Materials allows you to make an informed decision about who the best and most competitive supplier is.
3 Valuable Benefits of Using a Bill of Materials
Benefit 1 – Compare Easier
You will be able to instantly compare quotes accurately.
Benefit 2 – Determine Best Value
You will be able to determine who is providing the better overall service and/or product.
Benefit 3 – No need to Guess
You will be able to make an informed decision instead of guessing.
Don’t Make the Same Mistake
I have been in this situation myself. I once requested quotes from 5 different contractors for a semi-complex project. Thinking it would be faster and easy to simply make a quick decision, it didn’t turn out like I thought it would.
Once the quotes started coming in, I quickly realized how different they were going to be.
Some contractors had included items that I hadn’t even thought about and some contractors didn’t. There were bits and pieces of things everywhere and trying to wade through all 5 quotes just became confusing.
I even thought I would be smart and tried to create a separate MS Excel file to extract each contractors items and price. That just turned into an even bigger nightmare!
What a colossal waste of time.
That was the first and last time I sent out a quote request without including a Bill of Materials. Don’t make the same mistake and waste your time.
Time Saving Template
You can see from above that using a Bill of Materials is going to save you a lot of headaches when it comes time to make a decision.
Further to this, using a Bill of Materials Template is going to allow you to create a Bill of Materials accurately and quickly. Use this template to create your Bill of Materials and send it out to each supplier so they can all price the same scope accurately.
When you receive prices back, you will almost instantly be able to compare quotes and choosing the right supplier will be simple and fast.
Review this Bill of Materials Template below. This template is created in MS Excel and can easily be amended to suit your project.
Review the Contents
Review this Bill of Materials Template. This template is created in Microsoft Excel.
Buy this Bill of Quantities Template today and also receive an additional two templates completely free.
These templates are provided in MS Excel file format for easy download and use. All 3 templates are included in the one download for the one price.
Tender Assessment Comparison Template
Once you have received your quotes from suppliers you can enter them into this Tender Assessment Comparison Sheet. This will allow you to present your data professionally and also compare quotes easier.
A Progress Payment Certificate Template allows you to track project expenses between your Client and Contractors. Review the template included below.
This template is provided in both Microsoft Excel and Microsoft Word formats.
Progress Payment Certificate | Template
Total Inclusions
Bill of Materials Template Microsoft Excel .xlsx
Tender Assessment and Comparison Template Microsoft Excel .xlsx
Certificate of Payment Template Microsoft Excel .xlsx & Microsoft Word .docx
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Simply use Microsoft Word’s Find and Replace tool (Ctrl+H) to identify and replace all relevant items in a single hit, or scroll through and change the items highlighted in red.
Find, Select and Replace | Customize in Minutes
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Using templates saves a huge amount of time.
All the best with your project.
Regards,
David
Frequently Asked Questions
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