In construction, an estimate, bid, quote, and proposal can take on different meanings depending on who is using the term. Some construction professionals use the words “estimate” and “quote” interchangeably, while a bid or proposal may turn into a contract if a customer signs it. It’s a lot like the difference between Coke, cola, soda, and pop––it all depends on where you are and who you’re talking to, but we can all agree that you won’t get a glass of milk when you order one. Putting all of the confusion and subtleties aside, below are what we consider the most widely accepted definitions.
infographic by: jobsite.procore.com