Design/Bid/Build
Also known as “competitive bid,” this is perhaps the most familiar project delivery method. In it, the builder (also commonly known as the general contractor) typically has little if any involvement in the pre-construction and design phases of a project. The owner engages an architect to prepare substantially complete construction drawings, which are then bid on by builders, with the low qualified bidder usually winning the project.
ADVANTAGES
Best way to obtain competitive, apples-to-apples construction bids
Many different contract types available, including Guaranteed Maximum Price
DISADVANTAGES
Slowest project delivery (due to linear nature—first design, then bids, then construction)
More difficult to gauge accuracy of construction budgets because pricing is unknown until bids are received