A spec sheet is a piece of paper, or multiple pieces of paper, that give information about a construction job or manufacturing process. "Spec sheet" is industry jargon for specification papers. Often, the goal of a spec sheet is to give a contractor enough information so that they may make an educated bid for a proposed project. The spec sheet will tell the contractor the scope of the project and the expertise necessary to carry out the project.

While a requester is usually not bound to accept a bid based on the spec sheet, there may be repercussions if a bid is not awarded. Repeated instances where a bid is not awarded will lead to a requester getting a bad reputation. In these cases, any future bids may come in at higher prices as the contractors are unsure whether it is truly worth their time in reviewing the specifications.

Oftentimes, the spec sheet will be available weeks before a bid deadline is due. In many cases, a contractor will hire an individual whose only job is to assess situations and look at the spec sheets. Then, once learning what the specifications are, a bid sheet can be prepared. The job of the bid preparer is to make sure the bid is not so low that the company cannot make a profit, yet be lower than what any other company is capable of offering.

The spec sheet will give information a great deal of information about the project and the entire package may even include architectural or engineering schematics. This will provide information such as the materials to be used, the dimensions of the project and the time frame. This allows the accurate production of a budget for the project.

In some cases, a spec sheet may not apply to a construction project, but rather a manufacturing project. For example, a company looking at manufacturing a computer or some other piece of electronic equipment may present specifications regarding the materials to be used, the circuit boards needed and the performance ranges. Any company capable of meeting the requirements will be able to present bids.

While a spec sheet does contain specific provisions that cannot be altered, there may be situations where a contractor is given options. These are usually referred to as alternates. Usually, the person or entity requesting the bid will include these alternates as a chance to add features or cut corners in order to achieve a cost savings. Contractors looking for the best chance of success will likely submit bids an each alternate listed on the spec sheet.