A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
OPBID: Competitive Bidding Strategy Model
A discrete probabilistic model of strategy for competitive bidding in the construction industry is formulated and tested. The model is applied to actual past bidding data obtained from a construction contractor. This real-world application of the model verified the thesis that such a bidding strategy can assist contractors in increasing their profit from lump-sum contracts obtained by competitive bidding. A general computer program, OPBID (OPtimum BID), is developed that will enable the contractor to utilize this model.
OPBID: Competitive Bidding Strategy Model
A discrete probabilistic model of strategy for competitive bidding in the construction industry is formulated and tested. The model is applied to actual past bidding data obtained from a construction contractor. This real-world application of the model verified the thesis that such a bidding strategy can assist contractors in increasing their profit from lump-sum contracts obtained by competitive bidding. A general computer program, OPBID (OPtimum BID), is developed that will enable the contractor to utilize this model.
OPBID: Competitive Bidding Strategy Model
Morin, Thomas L. (author) / Clough, Richard H. (author)
Journal of the Construction Division ; 95 ; 85-106
2021-01-01
221969-01-01 pages
Article (Journal)
Electronic Resource
Unknown
OPBID. Competitive bidding strategy model
| Engineering Index Backfile | 1969
Bidding with Competitive Strategy Models
| ASCE | 2021