Background/Overview

Quoted items are used to describe the phases of work performed on the project and tie the contract values into the budget ACR. The scope of work is tied to the detailed breakdown of the vendors scope of work. This is what houses the schedule of values that breakdown labor, consultants, reimbursable..etc. The structure of the quoted items for the project contracts or bid requests, dictates how the vendor will breakdown cost for the phase(s) of work.

Example A (One-to-One)

A higher party sends down to a lower party (GC/Arch/Sub) a bid request. The higher party, would set up their quoted items in the structure they want the lower party to give values to. This is so the lower party structures their costs how the higher party dictates. In a One-to-One quoted items structure, the higher party is listing each quoted item that they want their vendor to build their bid package to match. The vendor could then add tasks to describe the work to be completed under each quoted item as shown below:

Example B (One-to-Many)

A higher party structures one quoted item as a summary that their vendor will use to compile all scope of work into. An example of this would be that an Owner rep sends a bid package request down to a lower party with the quoted item being "Construction", the vendor would then break down all "Construction" costs as phases within that one Quoted Item. Vendor has the ability to add more detail within that one overall quoted item. This option is best for having the vendor decide the level of detail to be included within the general quoted item for their RFP.

Note: Quoted items house the Schedule of Values (SoVs) that describe the phases and tasks of work that is to be completed within the quoted item.

See Also

How to Create a Contract

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