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Department
Administrative Studies
Course
ADMS 1010
Professor
Rebecca Jubis
Semester
Winter

Description
The effect of client and type and size of construction work on a contractor's bidding strategy Contractors making strategic decisions in respect of: (1) The selection of contracts to bid for (2) The bid levels necessary to secure them. If a contractor opts to bid, the pricing of the bid normally comprises a two-stage formulation process consisting of a baseline cost estimate and subsequent mark- up. E.g. overheads, profit and risk The contractor `must choose a price high enough to provide sufficient contribution to overheads and profits, yet low enough to ensure that a sufficient volume of work is actually obtained . . . in an environment of considerable uncertainty about the behaviour of the competitors' Factors influencing bidding behaviour were grouped by Drew and Skitmore [17] into those affecting: (1) the behaviour of contractors as a group (e.g. market conditions, number and identity of competitors); (2) individual contractor behaviour (e.g. contractor size, work and tenders in hand, availability of staff); and (3) behaviour toward the characteristics of the contract (e.g. type and size of construction work, client, location) Bid mark-up models proposed using a probabilistic approach to determine the most appropriate mark-up level for a given contract. Three approaches
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