A Stochastic Cost Engineering System (SCENS) Applied to Estimating and Tendering for Bill of Quantities Contractsby Kamalain K. Sha'ath, An-Najah Nat Univ, Nablus, Israel,
Gurdev Singh, An-Najah Nat Univ, Nablus, Israel,
Abstract: In many countries, contracts based on bill of quantities are very common in construction industry. Although estimating and tendering are overwhelmed by uncertainties, the common practice is still dominated by the deterministic approaches. A stochastic cost engineering system for estimating and tendering for measured construction projects is described in some details. It is preceded by an overall description of project estimating and tendering environment which emphasizes the importance of the system. A brief description of the system objectives is stated. Sample project files are given for illustration. The system is implemented in the Windows environment using the Microsoft Excel spreadsheet. Discussion of the system is followed by statement of the important conclusions.
Subject Headings: Systems engineering | Spreadsheets | Contracts | Stochastic processes | Construction costs | Construction industry | Uncertainty principles
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