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Ansell, M, Holmes, M, Evans, R, Pasquire, C and Price, A (2009) Delivering Best Value in Highways Major Maintenance Schemes: Case Study. Journal of Construction Engineering and Management, 135(04), 235–45.

Dikmen, I, Birgonul, M T and Budayan, C (2009) Strategic Group Analysis in the Construction Industry. Journal of Construction Engineering and Management, 135(04), 288–97.

Goodrum, P M, Zhai, D and Yasin, M F (2009) Relationship between Changes in Material Technology and Construction Productivity. Journal of Construction Engineering and Management, 135(04), 278–87.

Lucko, G (2009) Productivity Scheduling Method: Linear Schedule Analysis with Singularity Functions. Journal of Construction Engineering and Management, 135(04), 246–53.

Sawhney, A, Walsh, K D, Bashford, H H and Palaniappan, S (2009) Impact of Inspected Buffers on Production Parameters of Construction Processes. Journal of Construction Engineering and Management, 135(04), 319–29.

Shapira, A and Simcha, M (2009) AHP-Based Weighting of Factors Affecting Safety on Construction Sites with Tower Cranes. Journal of Construction Engineering and Management, 135(04), 307–18.

Sobeih, T, Salem, O, Genaidy, A, Abdelhamid, T and Shell, R (2009) Psychosocial Factors and Musculoskeletal Disorders in the Construction Industry. Journal of Construction Engineering and Management, 135(04), 267–77.

Surahyo, M and El-Diraby, T E (2009) Schema for Interoperable Representation of Environmental and Social Costs in Highway Construction. Journal of Construction Engineering and Management, 135(04), 254–66.

Tuholski, S J, Gursel, A P, Tommelein, I D and Bomba, G (2009) “Lean” Comparison Using Process Charts of Complex Seismic Retrofit Projects. Journal of Construction Engineering and Management, 135(04), 330–9.

Wu, M and Lo, H (2009) Optimal Strategy Modeling for Price-Time Biparameter Construction Bidding. Journal of Construction Engineering and Management, 135(04), 298–306.

  • Type: Journal Article
  • Keywords: Bids; Construction costs; Estimation; Optimization models; Parameters; Regression analysis;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2009)135:4(298)
  • Abstract:
    In the price-time biparameter construction bidding system, each contractor submits a bid price and construction time to complete the project, which are then aggregated to a total combined bid (TCB) by the client, and the contractor with the lowest TCB is awarded the project. Since bid price can be set as construction cost plus an appropriate markup and construction cost usually depends on construction time, TCB can be expressed as a function of time. By minimizing such a TCB function, the optimal construction time can be obtained, from which the optimal construction cost and bid price and hence the optimal price-time bidding strategy can be sequentially decided. While examining the whole optimal bidding process, this paper focuses on three aspects to enhance the key ideas: discussing the properties of the general and the quadratic time-cost functions, deducing the optimal bidding formulas with quadratic time-cost relationship, and illustrating the procedures for estimating the quadratic time-cost function using a few experience data and the linear regression method. The in-depth examination of the price-time biparameter bidding model in the paper can suggest ideas and methodologies to construction bidding or contractor selection with more criteria.