Learn about actual and potential costs
How much should I pay for Electrical Engineering Services?
What is the average price of Electrical Engineering Services?
This procurement report includes pricing information to help you purchase Electrical Engineering Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Electrical Engineering Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Electrical Engineering Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Electrical Engineering Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Electrical Engineering Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The market share concentration for structural engineering services is moderate, with the top four suppliers accounting for between 30.0% and 50.0% of revenue. Moderate market share concentration is not detrimental to buyers because a high number of suppliers ensures heavy price-based competition. However, market share does fluctuate year-on-year due to... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
How do you manage regulatory change?
How has increased regulation changed your pricing? How do you anticipate it will change in the future?
What certifications does your staff have, and are there ongoing training sessions?
How do you keep informed about ongoing regulatory changes?
Do you carry adequate liability insurance, workers compensation and other necessary insurance?
Do you source equipment that is highly regulated? How do you maintain regulatory compliance?
What is your reputation like among customers and how have you developed it?
How does your service differ from similar competitors'? How do you win and retain business?
With many vendors offering free consultations, do you provide other incentives to attract customers?
What kind of warranties can you provide for the integrity of the work?
How has your business maintained an edge in the market during the global pandemic?
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Key elements for every RFP
What should my RFP include?
Buyers should explicitly state the amount of the contract award.
Buyers should explain whether they expect to pay for services after each project or at some other point during the life of the contract.
Buyers can consult the Benchmark Price section of this report to determine an approximation of how much they should pay.
Buyers should define a payment schedule.
Buyers should evaluate the experience of the engineers that will be assigned to the project, and factor which engineering certifications they have into their selection decision.
Buyers should make sure the provider offers appropriate engineers that have the expertise and certifications needed for the project.
Buyers should evaluate providers based on the estimated costs of the engineering services they are offering.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers need to include the date proposals are due and when award information will be available.
Buyers should provide the timeline of the project.
Buyers should also include any other benchmark dates relevant to the project that suppliers will need to be aware of.
Buyers should list the expected start date once a supplier is chosen.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for electrical engineering services presents a low level of risk. Electrical engineering service providers purchase specialized equipment and complex computer software to evaluate and design electrical systems in buildings and other structures. Due to their consistently falling prices, the procurement of computers poses little supply chain risk.... Subscribe to learn more.