While creating the budget for your proposal to paint dorm rooms, you used the go
ID: 2747299 • Letter: W
Question
While creating the budget for your proposal to paint dorm rooms, you used the going rate for your area, or $25 an hour. However, as you're preparing to fax the proposal by the 5 p.m. deadline, you're told there may be students looking for summer employment and willing to work for $17 an hour. With this new information, which of the following would be ideal regarding the budget in the proposal?
A.
Revise your proposal's budget to reflect the lower rate because this will make your proposal more competitive.
B
Leave the budget at $25 an hour, even though you might be able to charge less.
C.
Submit the average of $17 an hour and $25 an hour.
D.
Hold up submitting the proposal until you can get a definitive answer.
E.
Quote an amount that is lower than $17.
A.
Revise your proposal's budget to reflect the lower rate because this will make your proposal more competitive.
Explanation / Answer
Ans D) Hold up submitting the proposal until you can get a definitive answer.
Even though I have been told that there may be students looking for summer employment and willing to work for $17 an hour, I will hold up the submission and try to validate this information by seeking expert advice, I might even hire a consultant to analyze the going rate charged by people who are willing to work part time and hence charge less. After verifying the facts, I will estimate the probability of getting students for the part time job. With the help of this probability, I will do scenario building and change the bid accordingly if required.
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