Laryea, S A (2008) How contractors take account of risk in the tender process: Theory and practice. PhD thesis, University of Reading, UK.
Abstract
Formal and analytical models that contractors can incorporate into the bidding process for pricing risk have been proposed by academic researchers in recent years. However, they are rarely used in practice. Some studies have elicted reasons for the low take-up of risk models by contractors but none has gone as far as examining what contractors actually do. Following an exploratory interview and documentary analysis study involving seven contractors in Ghana and five in the UK, four participant observation case studies were carried out in different construction firms where the whole tender process was shadowed to gain a better understanding of how contractors arrive at the bid price and how that price is influenced by the apportionment of risk.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Uncontrolled Keywords: | construction industry; risk management; price determination; bidding; estimating |
| Index terms: | construction industry, risk management, price determination, Ghana, case study, pricing, documentary analysis, analytical model, bidding, estimating, construction firm, observation, interview |
| Subjects: | Geography, tendering, theoretical framing, industry analysis, organization, risk assessment, data collection methods, economic analysis, financial and cost management, data science, bidding |
| Topics: | Research Practice, Cost Management, Business Strategy, Procurement, Risk Management, Geographical Context |
| Descriptive scope: | 5 PCTEA |
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