Rabie, M and El-Sayegh, S (2017) Modelling of tri-parameter bidding integrating cost, time and risk: A stochastic approach. Journal of Financial Management of Property and Construction, 22(2), pp. 117-134. ISSN 1366-4387
Abstract
This paper proposes a new tri-parameter bidding model integrating cost, time and risk demonstrating that choosing the contractor based on the lowest price and time reduces the available float loss and increases the schedule risks.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | bidding; construction management; multi-parameter bidding; time cost risk trade-off |
| Index terms: | multi-parameter bidding, bidding, modelling |
| Subjects: | analytical methods, bidding |
| Topics: | Procurement, Engineering Principles |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here