OPBID: COMPETITIVE BIDDING STRATEGY MODEL

A DISCRETE PROBABILISTIC MODEL OF STRATEGY FOR COMPETITIVE BIDDING IN THE CONSTRUCTION INDUSTRY IS FORMULATED AND TESTED. THE MODEL IS APPLIED TO ACTUAL PAST BIDDING DATA OBTAINED FROM A CONSTRUCTION CONTRACTOR. THIS REAL-WORLD APPLICATION OF THE MODEL VERIFIED THE THESIS THAT SUCH A BIDDING STRATEGY CAN ASSIST CONTRACTORS IN INCREASING PROFIT FROM LUMP-SUM CONTRACTS OBTAINED BY COMPETITIVE BIDDING. A GENERAL COMPUTER PROGRAM, OPBID (OPTIMUM BID), IS DEVELOPED THAT WILL ENABLE THE CONTRAACTOR TO UTILIZE THIS MODEL. /ASCE/

• Supplemental Notes:
  • Vol 95, No CO1, PROC PAPER 6690, PP 85-106, 10 FIG
• Authors:
  • Morin, T L
  • Clough, R H
• Publication Date: 1969-7

Media Info

• Serial:
  • Journal of the Construction Division

Subject/Index Terms

• TRT Terms: Bids; Competitive bidding; Computer programs; Construction industry; Contractors; Mathematical models; Probability theory
• Subject Areas: Administration and Management; Construction; Data and Information Technology; Highways;

Filing Info

• Accession Number: 00215326
• Record Type: Publication
• Files: TRIS
• Created Date: Oct 13 1970 12:00AM