Final answer:
The key to successful cost control for bid submittal is the development of a good estimate, which provides a baseline for controlling project costs and ensuring financial viability.
Step-by-step explanation:
The key to successful cost control for bid submittal is C) the development of a good estimate. Creating a good estimate is crucial because it lays the groundwork for all subsequent financial decisions and monitoring throughout the project. An accurate and comprehensive estimate provides a baseline for project cost that allows for effective tracking and managing of actual expenses against the budgeted amounts, ensuring that the project remains financially viable.
It is important to recognize the significance of the engineering design process, which involves the detailed design from a design concept and occupies a major portion of the project timeline. Efficiency and accuracy in this process are essential because a poor detailed design can negatively affect the overall success of the project, leading to cost overruns and design inefficiencies. The budget for product development and the drawings used to design a product are elements deeply tied to creating accurate estimates, further highlighting their importance in the bid submittal process.