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Evaluation of Bid in Construction Industry Based on Multi-criteria Approach Using TOPSIS
In the construction industry, the bidding pattern is now a multivariable based. There are many variables such as management capability, technical capability, financial capability, social influence, contribution to the project, organizational management, and health and safety records, which impact the successful competition of construction projects. Incorporating and scoring all these variables is a time-consuming and complicated process of decision-makers. In this paper, the literature survey is conducted to find the various key parameters that impact the bid evaluation. The concept of multi-criteria decision making (MCDM) is used for three different hypothetical cases. The MCDM-based technique for order of preference by similarity to ideal solution (TOPSIS) algorithm is used with the help of a computer program to rank the bid. The study conducted shows that the variation of closeness coefficient varies with the weight assigned to each criterion.
Evaluation of Bid in Construction Industry Based on Multi-criteria Approach Using TOPSIS
In the construction industry, the bidding pattern is now a multivariable based. There are many variables such as management capability, technical capability, financial capability, social influence, contribution to the project, organizational management, and health and safety records, which impact the successful competition of construction projects. Incorporating and scoring all these variables is a time-consuming and complicated process of decision-makers. In this paper, the literature survey is conducted to find the various key parameters that impact the bid evaluation. The concept of multi-criteria decision making (MCDM) is used for three different hypothetical cases. The MCDM-based technique for order of preference by similarity to ideal solution (TOPSIS) algorithm is used with the help of a computer program to rank the bid. The study conducted shows that the variation of closeness coefficient varies with the weight assigned to each criterion.
Evaluation of Bid in Construction Industry Based on Multi-criteria Approach Using TOPSIS
Lecture Notes in Civil Engineering
Laishram, Boeing (editor) / Tawalare, Abhay (editor) / Gupta, Saurabh (author) / Nair, Syam (author)
International Conference on Advances in Civil Engineering ; 2020
2021-12-15
13 pages
Article/Chapter (Book)
Electronic Resource
English
Development Path of Construction Industry Internet Platform: An AHP–TOPSIS Integrated Approach
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