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Abdelhamid, T S (1999) Measuring and evaluating physiological demands of construction work, Unpublished PhD Thesis, , University of Michigan.
Al-Hussayen, M A (1980) Building problems in Saudi Arabia: The need for building research, and the development of building research approaches, Unpublished PhD Thesis, , University of Michigan.
Awwad, R E (2010) Neutral and risk-sensitive models for competitive bidding methods based on average and order statistics, Unpublished PhD Thesis, , University of Michigan.
- Type: Thesis
- Keywords: cost overrun; uncertainty; utility theory; bidding; disputes; prequalification; bidding model; decision analysis; probability; Monte Carlo simulation; simulation
- ISBN/ISSN:
- URL: https://www.proquest.com/docview/276361399
- Abstract:
The low bid method has been the most common competitive bid selection approach used for public projects in the U. S. construction industry. This method is usually coupled with a prequalification process to ensure that the lowest bidder has the financial capacity, the necessary experience, and enough bonding capacity to take charge of the project and to perform the work according to the project's requirements. However, driven by their bad financial status or by their urgent need for work, some contractors tend to abuse the free and price-directed competitive nature of the low bid method by deliberately submitting extremely low bid prices in order to enhance their chance of winning and to at least cover their general and administrative expenses. Thus it is possible for the project to be awarded to an accidental or deliberate unrealistic low bid. This often leads to cost overruns, schedule delays, claims and further disputes between parties during construction. This research investigates alternative competitive bidding methods that have the potential to remedy the aforementioned drawback of the low bid method. Monte Carlo simulation approach is used to study and model average-based bidding methods where the winning bid is defined in relation to the average of submitted bids. This research also studies two other competitive bidding methods: the second low bid method where the second lowest bid is awarded the project and the median bid method where the winner is defined to be the median bid. The merits and shortcomings of these methods are analyzed and compared relative to each other and to the low bid method through produced nomograms that depict the winning probability, the optimum markup and the optimum expected profit under each. After studying the aforementioned bidding methods from the perspective of a risk-neutral contractor, this research uses established principles of decision analysis and utility theory to develop a risk-sensitive bidding model that can be applied to each of the studied bidding methods. This model helps a contractor determine his optimal markup for a project given his risk attitude and his uncertainty about the project's estimated and final costs.
Behzadan, A H (2008) Arviscope: Georeferenced visualization of dynamic construction processes in three-dimensional outdoor augmented reality, Unpublished PhD Thesis, , University of Michigan.
Chen, T Y-J (2019) Advancing quantitative risk analysis for critical water infrastructure, Unpublished PhD Thesis, , University of Michigan.
Choi, B (2018) The role of socio-cognitive process in construction workers' safety behaviors, Unpublished PhD Thesis, , University of Michigan.
Chung, K H Y (2022) Data fusion, hedonic pricing, and blockchains: Lowering investment barriers for sustainable infrastructure, Unpublished PhD Thesis, , University of Michigan.
Colberg, M R (1950) Federal control of construction following World War II, Unpublished PhD Thesis, , University of Michigan.
Dias, A, Jr. (1994) A managerial and financial study on the involvement of private sector companies in the development, construction, operation, and ownership of infrastructure projects, Unpublished PhD Thesis, , University of Michigan.
Dzeng, R-J (1995) CasePlan: a case-based planner and scheduler for construction using product modeling, Unpublished PhD Thesis, Department of Civil and Environmental Engineering, University of Michigan.
Han, S-H (2004) A working prototype of distributed collaborative architectural design system, Unpublished PhD Thesis, , University of Michigan.
Hasell, M J (1983) Gaming simulation: A communication tool for architects and designers, Unpublished PhD Thesis, , University of Michigan.
Henn, R L (2013) Moving targets: Managing interinstitutional relationships in green building design and construction, Unpublished PhD Thesis, , University of Michigan.
Howe, A S (1998) A new paradigm for life-cycle management of kit-of-parts building systems, Unpublished PhD Thesis, , University of Michigan.
Ismail, I A (2014) Financial cash flow determinants of company failure in the construction industry, Unpublished PhD Thesis, , University of Michigan.
Jebelli, H (2019) Wearable biosensors to understand construction workers' mental and physical stress, Unpublished PhD Thesis, , University of Michigan.
Kabo, F W (2006) Low-cost housing design and provision: A case study of Kenya, Unpublished PhD Thesis, , University of Michigan.
Kalampakorn, S (2000) Stages of construction workers' use of hearing protection, Unpublished PhD Thesis, , University of Michigan.
Khoury, H M (2009) Context-aware information access and retrieval for rapid on-site decision making in construction, inspection and maintenance of constructed facilities, Unpublished PhD Thesis, , University of Michigan.
Kirk, S J (1992) Improved design decision-making using small group value engineering gaming/simulation, Unpublished PhD Thesis, , University of Michigan.
Lee, H-S (1992) Automated interactive cost estimating system for reinforced concrete building structures, Unpublished PhD Thesis, , University of Michigan.
Leu, S-S (1992) Object-oriented representation model of construction technology information, Unpublished PhD Thesis, , University of Michigan.
Liang, C-J (2021) Affecting fundamental transformation in future construction work through replication of the master-apprentice learning model in human-robot worker teams, Unpublished PhD Thesis, , University of Michigan.
Liu, M (2019) Video-based human motion capture and force estimation for comprehensive on-site ergonomic risk assessment, Unpublished PhD Thesis, , University of Michigan.
Lundeen, K M (2019) Autonomous scene understanding, motion planning, and task execution for geometrically adaptive robotized construction work, Unpublished PhD Thesis, , University of Michigan.
Martin, S D (1981) Building contracts in classical Roman law, Unpublished PhD Thesis, , University of Michigan.
Mason, B (2023) Advancing autonomous green stormwater infrastructure, Unpublished PhD Thesis, , University of Michigan.
McIntosh, J F (1984) The application of the relational data model to computer-aided building design, Unpublished PhD Thesis, , University of Michigan.
Odeh, A M (1992) CIPROS: Knowledge-based construction integrated project and process planning simulation system, Unpublished PhD Thesis, , University of Michigan.
Paunikar, A (1983) Performance constraints of housing prefabricators in India: 3 case studies, Unpublished PhD Thesis, , University of Michigan.
Rohlman, R E (1978) Construction management: A comparison of management services, time, cost and supervision performance factors on public school projects in Michigan, Unpublished PhD Thesis, , University of Michigan.
Sherif, A H (1988) The choice of construction technology in developing countries: A socially conscious economic assessment approach, Unpublished PhD Thesis, , University of Michigan.
Srisuwanrat, C (2009) The sequence step algorithm: A simulation-based scheduling algorithm for repetitive projects with probabilistic activity durations, Unpublished PhD Thesis, , University of Michigan.
Stino, R M (1999) Effect of spatial variables on bricklaying productivity and ergonomics, Unpublished PhD Thesis, , University of Michigan.
Sugrue, D P (2021) Alternative financing for harbor infrastructure using big data analytics in the great lakes waterway, Unpublished PhD Thesis, , University of Michigan.
Taemthong, W (2002) Accounting for the impact of learning and scheduled overtime: Developing dynamic models to estimate and control labor time and labor cost, Unpublished PhD Thesis, , University of Michigan.
Tharachai, T (2004) Multiple project resource scheduling for construction, Unpublished PhD Thesis, , University of Michigan.
Thomas, A (2017) Modeling occupant behavior, systems life cycle performance, and energy consumption nexus in buildings using multi-method distributed simulation, Unpublished PhD Thesis, , University of Michigan.
Xiao, Y (2017) Three-dimensional reconstruction and modeling using low-precision vision sensors for automation and robotics applications in construction, Unpublished PhD Thesis, , University of Michigan.
Zouein, P P (1995) MoveSchedule: a planning tool for scheduling space use on construction sites, Unpublished PhD Thesis, Department of Civil and Environmental Engineering, University of Michigan.