From the course: Writing Construction Proposals and Budget Proposals

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Terms and definitions for construction proposals

Terms and definitions for construction proposals

From the course: Writing Construction Proposals and Budget Proposals

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Terms and definitions for construction proposals

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- [Instructor] It's important that we speak and understand the same language, so there are less misunderstandings. Let's discuss the most important terms used in construction proposal writing proposal. A proposal is a written document to a prospective owner or client detailing his scope of work and usually a price to accomplish that work agreement. An agreement is an arrangement between the owner, their authorized representative, or a higher level contractor in which money is exchanged for goods and services. For purposes of this course, an agreement normally comes in the form of a contract that lists specific terms and conditions of the work budget proposal. A budget proposal is a written document to a prospective owner or client detailing a scope of work and a price. However, this particular project may not have enough details or scope to accurately price. So an estimated value or budget price is used instead of an exact price. ROM, or rough order of magnitude. Similar to a budget…

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