Wanous, M; Boussabaine, A H and Lewis, J (2000) To bid or not to bid: A parametric solution. Construction Management and Economics, 18(4), pp. 457-466. ISSN 01446193
Abstract
One of the most important decisions that has to be made by construction companies/contractors is whether or not to bid for a new project when an invitation has been received. It would be of great help if a structured model could be developed that deals systematically with different bidding situations. A simple parametric solution for the 'bid/no bid' decision is reported in this paper. This solution is based on the findings of six semi-structured interviews and a formal questionnaire through which 38 factors that affect the bid/no bid decision were identified and ranked according to their importance to contractors operating in Syria. Only the most influential factors were considered in the development process. The model was optimized using data about 162 real bidding situations. Then the optimized model was tested using another 20 real projects. It proved 85% accurate in simulating the actual decisions. Although, the proposed model is based on data from the Syrian construction industry it could be modified very easily to suit other countries.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | bid/no bid criteria; parametric bidding model; Syria |
| Index terms: | bidding, bid/no-bid, influential factor, questionnaire, construction company, Syria, interview, construction industry |
| Subjects: | organization, risk assessment, data collection methods, bidding, political and administrative geography, industry analysis |
| Topics: | Business Strategy, Research Practice, Geographical Context, Risk Management, Procurement |
| 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