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Multiple‐objective bidding strategy using goal programming technique

Multiple‐objective bidding strategy using goal programming technique Purpose – This paper aims to provide a solution that allows a contractor to present its maximum competitiveness in meeting the multiple objectives defined by a project client in bidding for a contract. Design/methodology/approach – By applying goal programming (GP) technique, this paper presents an alternative quantitative method for assisting a contractor to find out its own most competitive strategy in bidding for construction contracts where multiple selection criteria are adopted. A goal programming optimal bidding strategy (GP‐OBS) model is introduced to help a contractor generate an optimal resources allocation solution. A hypothetical example is used to show the procedures of using the model GP‐OBS. Findings – This paper demonstrates that the GP technique can help contractors in producing an optimal bidding strategy which enables the contractor to present his/her maximum competitiveness in implementing project multiple objectives. Originality/value – The solution from the model helps contractors to decide the optimal level of resources to be consumed within the resource limitations. The model GP‐OBS provides a new approach in assessing contractor overall competitiveness. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing

Multiple‐objective bidding strategy using goal programming technique

Management Decision , Volume 46 (4): 17 – May 2, 2008

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
0025-1747
DOI
10.1108/00251740810865111
Publisher site
See Article on Publisher Site

Abstract

Purpose – This paper aims to provide a solution that allows a contractor to present its maximum competitiveness in meeting the multiple objectives defined by a project client in bidding for a contract. Design/methodology/approach – By applying goal programming (GP) technique, this paper presents an alternative quantitative method for assisting a contractor to find out its own most competitive strategy in bidding for construction contracts where multiple selection criteria are adopted. A goal programming optimal bidding strategy (GP‐OBS) model is introduced to help a contractor generate an optimal resources allocation solution. A hypothetical example is used to show the procedures of using the model GP‐OBS. Findings – This paper demonstrates that the GP technique can help contractors in producing an optimal bidding strategy which enables the contractor to present his/her maximum competitiveness in implementing project multiple objectives. Originality/value – The solution from the model helps contractors to decide the optimal level of resources to be consumed within the resource limitations. The model GP‐OBS provides a new approach in assessing contractor overall competitiveness.

Journal

Management DecisionEmerald Publishing

Published: May 2, 2008

Keywords: Tendering; Construction industry; Contracts; Competitive strategy; Objectives

References