Bid-price determination considering cash-flow effects

W. C. Wang, C. L. Lin, Y. H. Lu

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Citation (Scopus)

Abstract

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.

Original languageEnglish
Title of host publicationProceedings of the 10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005
Publication statusPublished - 2005 Dec 1
Event10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005 - Rome, Italy
Duration: 2005 Aug 302005 Sep 2

Publication series

NameProceedings of the 10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005

Other

Other10th International Conference on Civil, Structural and Environmental Engineering Computing, Civil-Comp 2005
CountryItaly
CityRome
Period05-08-3005-09-02

All Science Journal Classification (ASJC) codes

  • Civil and Structural Engineering
  • Building and Construction
  • Environmental Engineering

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