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Carpenter, N and Bausman, D C (2016) Project Delivery Method Performance for Public School Construction: Design-Bid-Build versus CM at Risk. Journal of Construction Engineering and Management, 142(10).
Chang, C and Chen, S (2016) Transitional Public–Private Partnership Model in China: Contracting with Little Recourse to Contracts. Journal of Construction Engineering and Management, 142(10).
Chen, C, Wang, Q, Martek, I and Li, H (2016) International Market Selection Model for Large Chinese Contractors. Journal of Construction Engineering and Management, 142(10).
Choi, J O, O’Connor, J T and Kim, T W (2016) Recipes for Cost and Schedule Successes in Industrial Modular Projects: Qualitative Comparative Analysis. Journal of Construction Engineering and Management, 142(10).
Choi, K and Lee, H W (2016) Deconstructing the Construction Industry: A Spatiotemporal Clustering Approach to Profitability Modeling. Journal of Construction Engineering and Management, 142(10).
de Castro e Silva Neto, D, Cruz, C O, Rodrigues, F and Silva, P (2016) Bibliometric Analysis of PPP and PFI Literature: Overview of 25 Years of Research. Journal of Construction Engineering and Management, 142(10).
Duzkale, A K and Lucko, G (2016) Exposing Uncertainty in Bid Preparation of Steel Construction Cost Estimating: I. Conceptual Framework and Qualitative C-I-V-I-L Classification. Journal of Construction Engineering and Management, 142(10).
Duzkale, A K and Lucko, G (2016) Exposing Uncertainty in Bid Preparation of Steel Construction Cost Estimating: II. Comparative Analysis and Quantitative C-I-V-I-L Classification. Journal of Construction Engineering and Management, 142(10).
- Type: Journal Article
- Keywords: Construction estimating; Bid uncertainty; Bid document; Bid accuracy; Quantity takeoff; Structural steel; Cost and schedule;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001124
- Abstract:
Bid prices vary greatly based on assumptions about uncertain conditions. In steel construction bidding, the contingency amount is typically used as a bid line item to factor in the unexpected—including impact of uncertainty—to the lump-sum bid price. Therefore, the goal of this research is to explore the impacts of uncertainties that contribute to contingency amounts. The costs of uncertainties in bid documents of several real-world school projects have been calculated. Contributions to the body of knowledge are (1) providing illustrative examples of real-world uncertainties from the data set; (2) statistically analyzing the relative occurrence and cost significance to increase estimators’ awareness when they evaluate uncertainties; and (3) comparing the cost significance from the data with officially recommended contingency percentages. This research enables steel estimators to make quantitative-based decisions on contingencies in their estimates should various major types of uncertainties arise without an opportunity to resolve them.
Gwak, H, Son, S, Park, Y and Lee, D (2016) Exact Time–Cost Tradeoff Analysis in Concurrency-Based Scheduling. Journal of Construction Engineering and Management, 142(10).
Harper, C M, Molenaar, K R and Cannon, J P (2016) Measuring Constructs of Relational Contracting in Construction Projects: The Owner’s Perspective. Journal of Construction Engineering and Management, 142(10).
Moret, Y and Einstein, H H (2016) Construction Cost and Duration Uncertainty Model: Application to High-Speed Rail Line Project. Journal of Construction Engineering and Management, 142(10).
Namian, M, Albert, A, Zuluaga, C M and Jaselskis, E J (2016) Improving Hazard-Recognition Performance and Safety Training Outcomes: Integrating Strategies for Training Transfer. Journal of Construction Engineering and Management, 142(10).
Poshdar, M, González, V A, Raftery, G M, Orozco, F, Romeo, J S and Forcael, E (2016) A Probabilistic-Based Method to Determine Optimum Size of Project Buffer in Construction Schedules. Journal of Construction Engineering and Management, 142(10).
Ramaji, I J and Memari, A M (2016) Product Architecture Model for Multistory Modular Buildings. Journal of Construction Engineering and Management, 142(10).
Salas, R and Hallowell, M (2016) Predictive Validity of Safety Leading Indicators: Empirical Assessment in the Oil and Gas Sector. Journal of Construction Engineering and Management, 142(10).
Sveikauskas, L, Rowe, S, Mildenberger, J, Price, J and Young, A (2016) Productivity Growth in Construction. Journal of Construction Engineering and Management, 142(10).