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Last edited 12 Dec 2018
Pre-tender estimate for contracts
The pre-tender estimate (PTE) is the final estimate of the likely cost of the works that are described in completed tender documents prepared to seek tenders (offers) from prospective suppliers. The pre-tender estimate itself is not included in the tender documents.
It also gives a basis for assessing and comparing tenders when they are returned.
As with the tender documents, the pre-tender estimate should be broken down into a series of packages (even if there will only be one main contract), this will allow easy appraisal of tenders received, which are likely to prepared by contractors based on prices of packages received form sub-contractors. It ensures that the tenders are easily compared with one another and with the pre-tender estimate, and any anomalies or potential savings identified.
NB: A post tender estimate is '…a cost estimate carried out after the evaluation of tenders to corroborate the funds required by the employer to complete the building project.' For more information, see Post tender estimate.
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- Cash flow projection.
- Contract sum.
- Contract sum analysis.
- Cost consultant.
- Cost plan.
- Elemental cost plan.
- Final account.
- Front-loaded costs.
- Initial cost appraisal.
- New Rules of Measurement.
- Order of cost estimate.
- Post tender estimate.
- Tender pricing document.
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