Methods and system for making a project available for bidding to a plurality of qualified potential bidders
A bid processing system receives a project description and a baseline estimate for the project. The project is opened for bidding to multiple potential bidders. Each of the potential bidders have access to the project description and the baseline estimate for the project. The bid processing system receives multiple bids for the project and calculates a bid value associated with each of the multiple bids. The system then determines a best bid value from the plurality of received bids and awards the project to the bidder associated with the best bid value.
1. A method comprising:
receiving a project description;
receiving a baseline estimate for the project, wherein the baseline estimate for the project is created by a non-bidding third party estimator;
making the project available for bidding to a plurality of potential bidders, each of the plurality of potential bidders being qualified by a credentialing service prior to receiving the project description, the plurality of qualified bidders having access to the project description and the baseline estimate prior to placing a bid for the project;
receiving a plurality of bids for the project from the qualified bidders;
determining, using one or more processors, a best bid value from the plurality of received bids; and
awarding the project to a bidder associated with the best bid value.
2. A method as recited in claim 1 further comprising communicating the project description, best bid value, and an identity of the bidder associated with the best bid value to an escrow service.
3. A method as recited in claim 1 wherein qualifying each potential bidder includes at least one of performing a criminal background check on the potential bidder, verifying the potential bidder's experience with a particular type of project, verifying the potential bidder's license status, and reviewing the potential bidder's warranty.
4. A method as recited in claim 1 further comprising re-qualifying each of the potential bidders at predetermined time intervals.
5. A method as recited in claim 1 further comprising maintaining a project rating for each of the potential bidders by monitoring the performance of each of the potential bidders.
6. A method as recited in claim 5 wherein maintaining a project rating for each of the potential bidders includes determining the timeliness with which projects are completed by the potential bidder.
7. A method as recited in claim 5 wherein maintaining a project rating for each of the potential bidders includes determining the work quality performed by the potential bidder.
8. A method as recited in claim 5 wherein maintaining a project rating for each of the potential bidders includes receiving survey results associated with the potential bidder's work from project sponsors.
9. A method comprising:
identifying a plurality of qualified bidders, the qualified bidders being previously qualified by a credentialing service;
receiving a description of a project from a project sponsor;
receiving a baseline estimate for the project from the project sponsor, the baseline estimate including an estimated cost to complete the project, wherein the baseline estimate for the project is created by a non-bidding third party estimator;
receiving requests to bid on the project from the plurality of qualified bidders;
making the project available for bidding to the qualified bidders, the qualified bidders having access to the project description and the baseline estimate;
receiving a plurality of bids for the project from the qualified bidders; and
determining, using one or more processors, a winning bid from the plurality of received bids.
10. A method as recited in claim 9 further comprising communicating the project description, the winning bid, and an identity of the bidder associated with the winning bid to an escrow service.
11. A method as recited in claim 9 further comprising communicating the project description, an identity of the project sponsor, and an identity of the bidder associated with the winning bid to a warranty service.
12. A method as recited in claim 9 wherein identifying a plurality of qualified bidders includes at least one of performing a criminal background check on the qualified bidder, verifying the qualified bidder's license status, verifying the qualified bidder's experience with a particular type of project, and reviewing the qualified bidder's warranty.
13. A method as recited in claim 9 further comprising maintaining a project rating for each qualified bidder by monitoring the project performance of each qualified bidder.
14. A method as recited in claim 13 wherein maintaining a project rating for each qualified bidder includes one of determining the timeliness with which projects are completed by the qualified bidder and determining the work quality performed by the qualified bidder.
15. A bid processing system comprising:
a memory to store data associated with a project; and
one or more processors coupled to the memory, the one or more processors configured to:
receive a project description and a baseline estimate for the project, wherein the baseline estimate for the project is received from a non-bidding third party estimator;
identify a plurality of qualified bidders for the project by receiving credentialing information from a credentialing service;
make the project available for bidding to the plurality of previously qualified bidders, the plurality of previously qualified bidders having access to the project description and the baseline estimate prior to placing a bid for the project;
receive a plurality of bids for the project; and
determine a winning bid from the plurality of received bids for the project.
16. A bid processing system as recited in claim 15 wherein the one or more processors are further configured to communicate the project description, the winning bid, and an identity of the bidder associated with the winning bid to an escrow service.
17. A bid processing system as recited in claim 15 wherein the one or more processors are further configured to maintain a project rating for each of the qualified bidders.