Final answer:
A contractor must create a detailed proposal for a fixed-price project, including budget, designs, labor considerations, and a detailed design with shapes and dimensions of all components.
Step-by-step explanation:
A contractor bidding on a fixed-price project must develop a detailed and accurate proposal to ensure all project requirements are met within the agreed-upon price. This proposal typically includes several critical components, such as a budget for product development, drawings used in the design of the project, consideration of labor resources, which can be both mental and physical, and a detailed design that includes shapes and dimensions of all physical components. In addition, understanding of change orders, payment schedules, and market analysis are essential to ensure the contractor can cover all costs and deliver the project as agreed.