TY - GEN
T1 - Bid-price determination considering cash-flow effects
AU - Wang, W. C.
AU - Lin, C. L.
AU - Lu, Y. H.
PY - 2005/12/1
Y1 - 2005/12/1
N2 - Appropriate decision of bid price of a construction project is crucial for a bidder in winning the contract of the project with a reasonable profit. This work proposes a new procedure for determining a reasonable bid price. The proposed procedure is developed based on a cost model and a multi-criteria evaluation model. The cost model (considering the effect of cash flows on project costs) is used to generate a cumulative distribution of bid price of the project, while the multi-criteria evaluation model is applied to reflect the bidder's preferences regarding the determination criteria. The details of the procedure are demonstrated by applying the procedure to a construction project in Taiwan. The application results display that the proposed procedure can support bidders in bid-price assessment.
AB - Appropriate decision of bid price of a construction project is crucial for a bidder in winning the contract of the project with a reasonable profit. This work proposes a new procedure for determining a reasonable bid price. The proposed procedure is developed based on a cost model and a multi-criteria evaluation model. The cost model (considering the effect of cash flows on project costs) is used to generate a cumulative distribution of bid price of the project, while the multi-criteria evaluation model is applied to reflect the bidder's preferences regarding the determination criteria. The details of the procedure are demonstrated by applying the procedure to a construction project in Taiwan. The application results display that the proposed procedure can support bidders in bid-price assessment.
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M3 - Conference contribution
AN - SCOPUS:80053398545
SN - 1905088000
SN - 9781905088003
T3 - Proceedings of the 10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005
BT - Proceedings of the 10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005
T2 - 10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005
Y2 - 30 August 2005 through 2 September 2005
ER -