Bid Evaluation

The assessment of submitted bids or proposals to determine the most suitable supplier or contractor based on criteria such as cost, qualifications, and capabilities.

Constructability Review

An assessment of project plans and designs to ensure they are feasible and can be constructed efficiently.

Cost Analysis

Analyzing and interpreting cost data to identify trends and potential cost-saving opportunities.

Cost Estimation

The process of calculating the expected cost of a construction project.

Cost Evaluations

A process that assesses the financial aspects of a dispute, including expenses related to litigation or arbitration, and helps parties make informed decisions about settlement or pursuing legal action.

Cost-Benefit Analysis

Assessing the benefits and drawbacks of a project to determine its financial viability.

Defects Inspection

Within two years after the completion of the building work, the developer must engage a qualified building inspector to conduct a defects inspection. This inspection identifies any defects or issues in the building’s common property and any associated lots.

Fair Market Value (FMV)

The reasonable and objective value of a property or asset in the open market, often used to assess damages in construction disputes.

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