Explain the terms “serial tendering” as used in the construction industry.
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In the construction industry, serial tendering refers to the practice of issuing a series of separate tenders for different parts or phases of a construction project, rather than issuing a single tender for the entire project. This approach can be used to break a large project into smaller, more manageable parts, or to allow different contractors to specialize in different aspects of the project.
One advantage of serial tendering is that it allows contractors to specialize in specific areas, which can increase efficiency and reduce costs. It can also allow for more competition among contractors, as smaller companies may be more able to bid on smaller parts of the project.
However, serial tendering can also be more complex and time-consuming, as multiple contracts must be negotiated and managed, and there may be increased risk of delays or disruptions if one part of the project falls behind schedule. Overall, the use of serial tendering depends on the specific circumstances of the project and the needs of the client.