Reviewing/Managing Path Analysis
The Path Analysis allows you 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.
As you enter every subcontractor quote in a bid package, the Path Analysis will always show you the total number of combinations in a bid package, and the amount associated with the "absolute low" combination of subcontractors.
In the example below, there are 2,504 possible subcontractor solutions to this bid package. the lowest possible path is a 5 subcontractor solution for $1,690,114. In this example, it also shows that the "low path" is $120,332 below my budgetary estimate for this bid package. The "low path" is updated instantly, every time a new bid is added to the bid package.
BidMatrix allows you to require and exclude individual subcontractor bids, when you require or exclude a subcontractor bid, you are putting conditions on the bid package matrix that could result in a solution to the matrix that is not the "absolute low". When that happens, BidMatrix will continue to show you the "absolute low" subcontractor solution, but it will also show you the lowest combination given the conditions that were put on the matrix. You will see the total number of "conditional" combinations, the lowest "conditional" amount, and the difference between the lowest "conditional" amount and the budgetary estimate.
In this example, Cullum's Mechanical's bid was required for Waste Drainage Systems. As a result of that condition, the number of "conditional" combinations to the bid package is 500, and the lowest "conditional" amount is $1,783,584, which is $26,882 less than my budgetary estimate, and is $93,450 more than the absolute low.
The currently Selected path always shows you the amount, and path count for the current subcontractor solution that is represented by the highlight bids in the matrix.
You can also apply a "limit" to 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 apply a "limit" to the number of subcontractors, the Path Analysis instantly shows you the optimum path given that limit.
In the example below, the lowest possible path is a 5 sub solution for $1,690,114. The lowest possible solution given a "limit" of 2 or fewer subcontractors is $1,697,358. The total number of combinations in the bid package with 2 or fewer subcontractors is 248.
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