Analyzing Bid History Source Data

The Source Data component lists rows of historical bid data for an item. You can use this information to compare and analyze the cost of the item at different quantities and variable conditions. Each row can be expanded to view information about the source of the item bid price, including variables from the cost estimate, and information about the proposal and vendor. You can include or exclude each item bid in the calculation of the regression or average price. If you are working with a cost estimate item rather than a reference item, you can also choose to apply the settings and save them as part of the associated cost estimate item bid-based task.

Note: You can analyze the same data in the form of an interactive scatter plot by using the Price Versus Quantity Analysis tool (see Analyzing Price Versus Quantity).

You can access the Source Data component by navigating to the Cost Estimate Item Bid Based Task Summary or the Item Bid History component, calculating the price, and then clicking the Source Data quick link. The Source Data quick link is available only after the item price has been calculated.

Note: The Source Data component is not available from the Recent menu.

At the top of the component, the Price field displays either the Average Price or Regression Price calculated by the model. The Regression field indicates whether the price displayed is a regression or an average.

You can enter criteria in the Quick Find search box to locate a specific item bid. You can also select a value in the Include/Exclude field to filter the list to show only bids that meet one of the following criteria: Excluded by Filter, Excluded by Model, Excluded by Selection, Included by Model, Included by Selection.

Each item bid history row displays values in these fields:

You can expand a row to display additional information in these fields:

Reason excluded by model

Pricing Information:

Proposal and Vendor:

To include or exclude an item bid in the price calculation, choose either Include by Selection or Exclude by Selection in the Include/Exclude field in the item bid row. Click the Reprice button. The model recalculates the value in the Price field. You can continue including or excluding item bids in the list as needed. Click the Reprice button to view the effects of each change.

If you accessed the Source Data component from the Cost Estimate Item Bid Based Task Summary, you can apply the changes to the associated bid-based task. The Apply button is available only after changes are made and repriced. To save the changes to the bid-based task associated with the cost estimate item, click the Apply button. The system takes you to the Cost Estimate Item Bid Based Task Summary with an updated value in the Task Price field. See Maintaining a Bid-Based Task for more information.