On the Importance of Cost Management in Project Biddings

With the rapid socioeconomic development as well as the process of urbanization, improvements have taken place in improvement and refinements have been made for methods of project bidding. It is widely acknowledged that the principle of "Honest, Justice, Public" should be followed during the bidding to create a sound construction environment and improve China's building industry by optimizing resource allocation and ensuring efficiency. Sound cost management of project and construction bidding is conducive to reasonable quotations and will increase investor's interests, promoting the development in building industry and market economy. This paper makes a brief analysis in the meaning, existing problems and solutions of cost management during a bidding in the purpose of lowering the cost, increasing profits and making sure that companies be able to survive in the ever competitive market.