The build scope is visible. The system around it isn’t. Cleared or escorted personnel, DEQMS documentation, ITPs and quality holds, compliance evidence, site access windows around a live base, bid administration hours Defence simply expect new entrants' price the works and miss the machine around it. Strong builders often win on price, then spend the next year quietly handing the margin back. Not because they built badly because those costs never made it into the number. And the number is the only place they can be fixed. Defence doesn’t punish high prices. It punishes wrong ones. ➡️ What’s a cost you learned to price in the hard way, after a Defence (or other complex) contract?