Reviewing and managing Path Analysis
The Path Analysis helps to remove the guesswork from your bid submission. BidMatrix optimizes your subcontractor selections by analyzing thousands of possible solutions in any given bid package, providing you with the optimum solution, in most cases in less than a second.
The lowest path
As you enter each subcontractor bid in a bid package, the Path Analysis shows you the total number of combinations in a bid package, and the amount associated with the "absolute low" combination of subcontractors. The low path is updated instantly, every time a new bid is added to the bid package.
Example: In this example, there are 2,502 possible subcontractor solutions to this bid package. The lowest possible path is a 5-subcontractor solution for $1,532,277. The low path is $89,763 below the budget estimate for this bid package.
The lowest path when there are required or excluded bids
In BidMatrix, you can require and exclude individual subcontractor bids. When you require or exclude a subcontractor bid, you put conditions on the bid package matrix that could result in a solution to the matrix that is not the absolute low. For example, you might need to use (or not use) a particular subcontractor for one phase of a project, regardless of their bid.
When you require or exclude particular bids, BidMatrix continues to show you the absolute low subcontractor solution, but it also shows you the lowest combination given the conditions you put on the matrix. It displays the total number of conditional combinations, the lowest conditional amount, and the difference between the lowest conditional amount and the budgeted amount.
Example: In this example, Harder Mechanical's bid is required for fire sprinklers. As a result of that condition, there are 985 conditional combinations for the bid package. The lowest conditional amount is $1,539,866, which is $82,174 less than the budget estimate and $7,589 more than the absolute low.
The selected path always shows you the amount and path count for the current subcontractor solution, represented by the highlighted bids in the matrix.
The optimal path with a limited number of subcontractors
You can also limit the number of subcontractors you are willing to accept as a solution to the bid package. This is also treated as a condition to the bid package. When you limit the number of subcontractors, the Path Analysis instantly shows you the optimum path given that limit.
Example: In this example, the lowest possible solution given a limit of 2 or fewer subcontractors is $1,541,436. The total number of combinations in the bid package with 2 or fewer subcontractors is 61.
