Abstract
The currently used method for winner determination under sealed-bids auction in the Beijing Construction Market (PRC) is based on measurement of six major criteria. One of the most important criteria consists of four subcriteria "bid price and amounts used of steel, cement and lumber". This measurement method is insensitive to changes in values of the four sub-criteria. In this paper, a new measurement of the sub-criteria is proposed to improve the insensitivity. They are characterized by (1) the sub-criteria's different values are assigned to different and reasonable points; (2) the closer the sub-criteria's values are to the corresponding composite base numbers, the higher the points these values are assigned; (3) the main idea of the original method are reserved. Comparisons between the original and the new proposed methods are made by a real case from the Beijing Construction Market. We think that the new proposed method may potentially improve contracting practice both for owners and contractors in Beijing construction market.
| Original language | English |
|---|---|
| Pages (from-to) | 229-242 |
| Journal | International Journal of Operations and Quantitative Management |
| Volume | 11 |
| Issue number | 3 |
| Publication status | Published - 2005 |
Research Keywords
- Base number of a bid
- Bid evaluation
- Chinese construction industry
- Composite base number of a bid
- Multiple criteria
- Sealed-bids auction