The correct answer is: B. Estimation of cost
A tender is a formal offer to carry out a construction project. It includes a detailed estimate of the cost of the project, as well as a description of the work to be done. The tender is submitted to the client, who then selects the contractor that they believe will provide the best value for money.
The cost of a construction project can vary depending on a number of factors, including the size and complexity of the project, the materials and labor costs, and the location of the project. The contractor will need to carefully consider all of these factors when preparing their tender.
The tender is an important document, as it forms the basis of the contract between the client and the contractor. It is therefore important that the contractor takes the time to prepare a detailed and accurate tender.
Here is a brief explanation of each option:
- A. Estimation of profit – This is not the purpose of a tender. The purpose of a tender is to estimate the cost of a construction project, not the profit that the contractor expects to make.
- B. Estimation of cost – This is the correct answer. The purpose of a tender is to estimate the cost of a construction project.
- C. Estimation of selling price – This is not the purpose of a tender. The purpose of a tender is to estimate the cost of a construction project, not the selling price of the project.
- D. Estimation of work – This is not the purpose of a tender. The purpose of a tender is to estimate the cost of a construction project, not the amount of work that needs to be done.