Marketing Services: Impact of Court Rulings
Consulting engineers have been the target of numerous court suits to remove uniform fee structures, lift bans on advertising, and permit competitive bidding of professional services. A...

Construction Specifications: A One-Book Deal
A contractor bidding on a civil works construction contract usually has to wade through two or three separate books of specifications within the limited time available to him, in order...

Competitive Bidding for A/E Services? Why Not?
A viable method of competitive bidding for architectural/engineering services is presented. The history of consultant selection procedures is reviewed as well as the controversy that continues...

Is Competitive Price Bidding for Professional Services Practical—
The implementation of competitive bidding for professional services is possible, but inadvisable. Procedures borrowed from construction contracting could be established to facilitate bidding...

Construction Cost Estimating in the Design Process
This paper describes an information processing approach to forming accurate construction cost estimates durning the design process. The process contains three major phases comprising 19...

An optimum Bid Approximation Model
A competitive bidding model is presented which enables the practitioner to approximate an optimum bid with little computational effort. Elementary calculus is used to derive a simplified...

Atlanta's New Airport Terminal—One Year Early, Within Budget
At Atlanta's new airport terminal complex the landside functions (ticketing and baggage) are in a two-building complex, and the airside activities (airplane gates and waiting...

Comparison of Friedman and Gates Competitive Bidding Models
The Gates-Friedman controversy is reviewed. An example of the application of each probability assessment model is presented. Monte Carlo simulation procedures used to evaluate the effectiveness...

Correction of Bidding Errors: The Belgian Solution
On the basis of data banks, a statistical method has been developed to calculate: (1)The minimum error total price, which is the price that includes the smallest error with regard to the...

Allocation of Risks

Minimizing Risks and Mitigating Losses (Panel discussion)

Optimal Bid Prices for Unit Price Contract
In this type of contract, the work is broken down by the owner into bid items with an estimated work quantity for each item. In preparing a bid, a contractor estimates the direct cost...

Bidding Strategy Using Multiple Regression
Multiple regression analysis is applied to construction competitive bidding to give a contractor new insights that will help him compete more effectively. Data from 48 projects bid by...

Alternate Bids for Bridge Deck Repair
The 45 yr old Smith Street Bridge (also known as the Bausch Memorial Bridge) over the Genesee River in Rochester, N.Y., is scheduled for rehabilitation. The extended period of exposure...

Peer Review: Old Concept in New Situations
In the past, clients treated their engineering consultants as the fallible human beings they are. No longer is this true. Today there is more pressure, by clients and courts, for error-free...

Expected Profit Selling Goods of Variable Quality
The expected profit of a supplier of goods (contractor) is analyzed for the general situation where renumeration is a function of the quality of the goods and this quality cannot be precisely...

Portfolio Theory: Applications in Construction
Portfolio theory and bid strategy models are used to select construction projects and determine bid prices. Probabilistic estimates of cost of existing projects are used to generate the...

Bidding Models: Effects of Bidders' Risk Aversion
A revised optimum bidding model is presented which corrects the omission, in previous models, of the way contractors behave when confronting risk. Specifically, the model proposes to use...

Theory for Competitive Bidding
A computer implementable bidding strategy model based on numerical integration is presented and its implications analyzed in a hypothetical competitive environment. Comparisons among data...

Paying the Price for Construction Risk
The amount that a contractor charges an owner is the expected cost of performing the work plus a price for accepting the risk plus a markup. The prices that different contractors should...

 

 

 

 

Return to search