New construction work is normally awarded to a contracting company after what process?

New construction work is typically awarded to a contracting company following a bidding process. This structured approach involves soliciting proposals from various contractors who submit their project plans and pricing based on the specifications provided by the project owner. The purpose of this competitive bidding is to ensure transparency, fairness, and cost-effectiveness in selecting a contractor. Each bid is evaluated based on multiple criteria, including price, experience, and proposed methodologies, allowing the project owner to make an informed decision.

The bidding process promotes competition among contractors, motivating them to present their best offers and innovative solutions while adhering to industry standards and regulations. By relying on this systematic method, stakeholders can better ensure they receive quality work at a fair price and mitigate the risk of favoritism or conflicts of interest that might arise from informal arrangements.