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Coping with Uncertainty in Unit Price Contracting
Unbalancing of Unit Price Proposals is widely used to improve cash flows and the competitiveness of a tender. Such practices can alter a contractor's risk favorably or otherwise. This paper is concerned with selecting unit prices which achieve a balance between maximizing the present worth of profit and minimizing potential contractor loss due to quantity misestimates. A quadratic programming model is devised to determine optimal unit prices and an example illustrates features of implementation.
Coping with Uncertainty in Unit Price Contracting
Unbalancing of Unit Price Proposals is widely used to improve cash flows and the competitiveness of a tender. Such practices can alter a contractor's risk favorably or otherwise. This paper is concerned with selecting unit prices which achieve a balance between maximizing the present worth of profit and minimizing potential contractor loss due to quantity misestimates. A quadratic programming model is devised to determine optimal unit prices and an example illustrates features of implementation.
Coping with Uncertainty in Unit Price Contracting
Diekmann, James E. (author) / Mayer, Robert H. (author) / Stark, Robert M. (author)
Journal of the Construction Division ; 108 ; 379-389
2021-01-01
111982-01-01 pages
Article (Journal)
Electronic Resource
Unknown
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