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Collins, A, Blondel, A A, Mensah, S and Manu, E (2021) Assessing the cost of competitive tendering in Ghana using transaction cost theory. Built Environment Project and Asset Management, 11(5), 835-50.
- Type: Journal Article
- Keywords: competitive tendering; cost of tendering; transaction cost; developing country; social sciences; cost analysis; infrastructure; tendering; contractors; transportation services; public sector; cost control; contract negotiations; bids; competition; USA; Gh
- ISBN/ISSN:
- URL: http://dx.doi.org/10.1108/BEPAM-05-2020-0095
- Abstract:
The purpose of this study was to determine the transaction cost (TC) contractors incur when tendering for a project as well as establish a correlation between the TC of tender and tender amount of projects procured through the national competitive bidding procurement method. The research draws extensively documentary analysis, observation and interviews to collect cost data on 14 different tenders submitted by a D1/K1 contractor. Using TC theory, the data are analyzed and the actual cost is determined. Further, Spearman rank correlation is employed to establish a relationship between tender price (TP) and the cost of tender by the aid of Statistical Package for Social Sciences. The research developed a tender preparation conceptual framework highlighting the components of TC in competitive tendering in Ghana and also revealed that, apart from the emotional and psychological costs, contractors in Ghana incur approximately Gh₵ 4,625 (US$ 925)-Gh₵ 2,520 (US$ 504) to prepare and submit a competitive tender. In relation to the tender figure, the TC of tender in Ghana ranges from 0.05% to 0.65% and an average of 0.33%. Also, there is an inverse correlation between TP and the percentage cost of tender. The research relied on 14 competitive tenders and also limited to public sector works. from the study should therefore be applied with caution. This study is the only known research that has focused on assessing the TC of public sector competitive tendering from a contractor's perspective and within a developing sub-Saharan African context.
Hemalattha, S and Vidjeapriya, R (2021) Developing an integrated framework for optimization of spatial requirements of construction equipment. Built Environment Project and Asset Management, 11(5), 903-17.
Julayhe, N and Rahman, M M (2021) Dwellers' perception on challenges and motivators of greening existing buildings in Brunei Darussalam. Built Environment Project and Asset Management, 11(5), 870-87.
Ofori, G, Zhang, Z and Ling, F Y Y (2021) Initiatives that enable Singapore contractors to improve construction productivity. Built Environment Project and Asset Management, 11(5), 785-803.
Olatunde, N A and Odeyinka, H A (2021) Extent of stakeholder management practices in building projects procured by private corporate organisations in Nigeria. Built Environment Project and Asset Management, 11(5), 819-34.
Oluwole, A O, Jane Jia Suen, L, Heap-Yih, C and Akanmu, A A (2021) Building information modelling penetration in quantity surveying practice. Built Environment Project and Asset Management, 11(5), 888-902.
Sambo Lyson, Z, Mwansa, C and Zulu, E (2021) Perceptions and beliefs influencing intention to use solar energy solutions in Zambian households. Built Environment Project and Asset Management, 11(5), 918-33.
Tuan Son, N, Sherif, M and Mostafa, S (2021) Project stakeholder's engagement and performance: a comparison between complex and non-complex projects using SEM. Built Environment Project and Asset Management, 11(5), 804-18.
Wanigarathna, N, Sherratt, F, Price, A D F and Austin, S (2021) Sources and flow of healthcare built environment design evidence. Built Environment Project and Asset Management, 11(5), 851-69.