Final answer:
The owner typically awards the contract to the lowest responsible bidder in competitive bidding, meaning the bidder who offers the most cost-effective solution while also being reliable and capable of completing the project to the required standards.
Step-by-step explanation:
In competitive bidding, when all bids are opened, the owner will normally award the contract to the lowest responsible bidder. This means the bidder not only offers the lowest price but also has the capability, resources, and reliability to complete the project successfully. Factors that may be considered to determine the responsibility of a bidder include financial stability, past performance, reputation, and the necessary licenses and bonds in place to undertake the project.
It is important not to confuse a responsible bidder with merely the lowest bidder, as selecting a contractor solely based on price without considering other factors may lead to subpar project outcomes. It is also distinct from the lowest qualified bidder, which implies that the bidder has met certain pre-defined criteria but might not necessarily be the most responsible or viable option.