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Ahmadian Fard Fini, A, Akbarnezhad, A, Rashidi, T H and Waller, S T (2018) Dynamic Programming Approach toward Optimization of Workforce Planning Decisions. Journal of Construction Engineering and Management, 144(02).

Chao, L and Kuo, C (2018) Neural-Network-Centered Approach to Determining Lower Limit of Combined Rate of Overheads and Markup. Journal of Construction Engineering and Management, 144(02).

  • Type: Journal Article
  • Keywords: Bids; Competition; Markup; Neural networks; Regression analysis; Overheads; Loss risk; Quantitative methods;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001440
  • Abstract:
    In bidding for construction projects, a contractor often uses the simple method of adding a combined rate of overheads and markup on top of the estimated direct cost for arriving at a bid. If the rate is subjectively charged, a greater loss risk is involved. An improved approach to determining the lower limit of the rate for a project is proposed. A neural network model built from recent winning bids and project attributes maps the rate in the winning bid for a project and is used to estimate the probabilities of winning for various rate levels. Then, the minimum rate to be charged is determined based on minimization of the overall loss risk defined by a probabilistic model with the estimated probabilities of winning and project cost variability. The approach is illustrated by an example using a firm’s bidding cases in Taiwan; the results are consistent with the features of the approach. In setting the lower limit of the overheads-cum-markup rate, the approach can be used to prevent arbitrary overcuts in bids under intense competition, thereby filling a gap among existing works and advancing the field of bidding.

Choi, B and Lee, S (2018) An Empirically Based Agent-Based Model of the Sociocognitive Process of Construction Workers’ Safety Behavior. Journal of Construction Engineering and Management, 144(02).

Du, J, Shi, Y, Zou, Z and Zhao, D (2018) CoVR: Cloud-Based Multiuser Virtual Reality Headset System for Project Communication of Remote Users. Journal of Construction Engineering and Management, 144(02).

El Meouche, R, Abunemeh, M, Hijaze, I, Mebarki, A and Shahrour, I (2018) Developing Optimal Paths for Evacuating Risky Construction Sites. Journal of Construction Engineering and Management, 144(02).

Fuller, J, Brown, C J and Crowley, R (2018) Performance-Based Maintenance Contracting in Florida: Evaluation by Surveys, Statistics, and Content Analysis. Journal of Construction Engineering and Management, 144(02).

Ghodoosi, F, Abu-Samra, S, Zeynalian, M and Zayed, T (2018) Maintenance Cost Optimization for Bridge Structures Using System Reliability Analysis and Genetic Algorithms. Journal of Construction Engineering and Management, 144(02).

Han, K, Degol, J and Golparvar-Fard, M (2018) Geometry- and Appearance-Based Reasoning of Construction Progress Monitoring. Journal of Construction Engineering and Management, 144(02).

Kaminsky, J A (2018) National Culture Shapes Private Investment in Transportation Infrastructure Projects around the Globe. Journal of Construction Engineering and Management, 144(02).

Khanzadi, M, Nasirzadeh, F and Dashti, M S (2018) Fuzzy Cognitive Map Approach to Analyze Causes of Change Orders in Construction Projects. Journal of Construction Engineering and Management, 144(02).

Langdon, R R and Sawang, S (2018) Construction Workers’ Well-Being: What Leads to Depression, Anxiety, and Stress?. Journal of Construction Engineering and Management, 144(02).

Lessing, J and Brege, S (2018) Industrialized Building Companies’ Business Models: Multiple Case Study of Swedish and North American Companies. Journal of Construction Engineering and Management, 144(02).

Love, P E D, Teo, P and Morrison, J (2018) Revisiting Quality Failure Costs in Construction. Journal of Construction Engineering and Management, 144(02).

Moon, S, Xu, S, Hou, L, Wu, C, Wang, X and Tam, V W Y (2018) RFID-Aided Tracking System to Improve Work Efficiency of Scaffold Supplier: Stock Management in Australasian Supply Chain. Journal of Construction Engineering and Management, 144(02).

Praticò, F G and Giunta, M (2018) Proposal of a Key Performance Indicator for Railway Track Based on LCC and RAMS Analyses. Journal of Construction Engineering and Management, 144(02).

Rashid, K M and Behzadan, A H (2018) Risk Behavior-Based Trajectory Prediction for Construction Site Safety Monitoring. Journal of Construction Engineering and Management, 144(02).

Said, H M and Bartusiak, J (2018) Regional Competition Analysis of Industrialized Homebuilding Industry. Journal of Construction Engineering and Management, 144(02).

Said, H M and Kandimalla, P (2018) Performance Measurement of Building Sheet-Metal Ductwork Prefabrication under Batch Production Settings. Journal of Construction Engineering and Management, 144(02).

Sangiorgio, V, Uva, G and Fatiguso, F (2018) Optimized AHP to Overcome Limits in Weight Calculation: Building Performance Application. Journal of Construction Engineering and Management, 144(02).

Stanford, M S and Molenaar, K R (2018) Influence of Simplified Procurement Methods on Competition for Public Sector Construction. Journal of Construction Engineering and Management, 144(02).

Tran, D Q, Diraviam, G and Minchin, R E (2018) Performance of Highway Design-Bid-Build and Design-Build Projects by Work Types. Journal of Construction Engineering and Management, 144(02).

Xiao, J, Li, X, Zhang, Z and Zhang, J (2018) Ontology-Based Knowledge Model to Support Construction Noise Control in China. Journal of Construction Engineering and Management, 144(02).

Yiu, T W, Liu, T and Kwok, L C (2018) Explicating the Role of Relationship in Construction Claim Negotiations. Journal of Construction Engineering and Management, 144(02).