Your

firm has kept a good database of its bids, cost estimates and the winning bids

for past bidding attempts. As a chief estimator who just joined the firm, you

propose the use of cost estimate competitiveness ratios (CECR) from your firm’s past bidding attempts in

assessing the competitiveness of your firm’s cost estimate. The output of this

CECR measure can be used in the formulation of your firm’s bidding strategies

for future bidding attempts. Use a hypothetical plot to present and discuss your

proposal and its application in future bidding attempts.