When you set out on a large construction project, the first step will be to get bids from multiple construction companies. This can come in the form of you calling around and asking for bid or you might put out a request for proposal (RFP) to see what bids come in. Either way, you’ll (hopefully) wind up with multiple bids to sort through. This part of the process can seem really overwhelming, especially if it’s your first time getting bids. To make things easier, here are four things to consider when picking bids.

Track Record

Look at past projects each company has completed and the way they completed them. Were they on time? Were they over budget? Were there multiple accidents during construction? These are all great questions to ask. Remember, a bid is only as good as the execution. Sadly, there are plenty of companies that are willing to come in with the lowest bid only to double the budget and timeline halfway through the project.

Cost

Obviously, cost is an important factor in the bid, but it’s not the only factor to consider. Just because a company offers the lowest bid doesn’t mean they’re right for the job. We’ve all heard the motto, you get what you pay for, and this holds true for construction too. Going with a company solely because they have the lowest bid can end up costing more in the long run if the project goes over budget or over timeline.

Industry Expertise

Assuming any construction company can build any building is a common misconception. In fact, there are industries that require a bit of past experience to do correctly. Industries like healthcare, multifamily housing, and banking all require knowledge of specific materials and processes to use. Without this knowledge, projects can quickly come out subpar.

Project Management

 It’s also not a bad idea to ask to see some credentials regarding the individuals who will be taking point on your project. Superintendents, project managers, safety directors, and project coordinators are the typical positions in charge of projects. See who will be assigned to your project and make sure they have experience running a project similar to yours.

Picking the right bid is a big decision, but with these four steps you can make the decision with confidence.