In the early '80s we always based pur quotes on "BLS." It looks as if it may be the 'CPI' now.
Take a look at this index: http://data.bls.gov/PDQ/servlet/SurveyOu...SA0,CUUS0200SA0
Note that the index is based upon a based period of 1980-82 at 100%. In January '06 it was 190.8% which means if you bid $100 in 1982 the bid would be $190.80 January '06.
A bid submitted Jan '05 at and index of 184.1% would be 190.8% Jan '06.
So, if you wanted to, your pricing could be based upon the CPI March '06 index and adjusted per the U.S. Department of Labor
Bureau of Labor Statistics CPI table at the time the P.O. is submitted to you based upon an immediate start date and your quoted lead time for the project to be completed.
But, it then depends upon your competitors. Are they going to gamble and quote prices based upon the present market, stick to their prices of complain after the job finally starts that they have to withdraw their proposal or cry for more money.
Or, take a shot in the dark at what your cost will be in one year and take a calculated gamble.
Again, it depends upon the competitive makeup of the market you are in.
(edited to add link)
[This message has been edited by electure (edited 03-10-2006).]