Fixed bid projects are characterized by fixed time, predefined scope and fixed budget. Add to this, predefined quality checks. We will keep quality out of consideration for it can be never be considered a variable. The other three (time, scope and budget) can be considered variables. In most fixed-bid projects, none of them are allowed to be variables, which more often than not, lead to the project not meeting the expectations of stakeholders. Having all three of time, budget and scope fixed is very unrealistic and will most likely result in project failure. However, if we can change one of the variables, it will certainly increase the probability of success.