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Abdul-Aziz, A-R (2012) Control mechanisms exercised in Malaysian housing public-private partnerships. Construction Management and Economics, 30(01), 37–55.

Cattell, D W (2012) An overview of component unit pricing theory. Construction Management and Economics, 30(01), 81–92.

  • Type: Journal Article
  • Keywords: bidding, pricing, risk analysis, risk management, mark-up
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446193.2011.648948
  • Abstract:
    Component unit pricing (CUP) theory presents a fresh approach to item pricing, described as the process of distributing the overall price among its constituent component items. This theory provides explanation and proof that different distributions of mark-up among the items of a project produce different levels of reward for contractors, while exposing them to different degrees of risk. The theory describes the three identified sources of these rewards, namely those of improved cash flow, escalation in compensation and valuations of likely variations. In addition, it also provides the first explanation of the three risks involved, namely the risk of ?rejection?, the risk of ?reaction? and the risk of ?being wrong?. In combination, it provides a means by which both the rewards as well as these risks can now be measured given any pricing scenario. This theory gives effect to fuzzy constraints on the price of each item, providing a scientific basis by which to identify more extreme prices when pursuing more profit and more restrained prices when seeking to reduce risk. Overall, it provides a basis by which to moderate these two objectives in the pursuit of the maximization of a contractor?s utility. A test on a hypothetical project indicates an improvement of more than 150% on utility, if a contractor applies this theory, compared to the position when balanced prices are used instead.

Davey, C L, Powell, J A, Powell, J E and Cooper, I (2002) Action learning in a medium-sized construction company. Building Research & Information, 30(01), 5–15.

Gurung, N and Mahendran, M (2002) Comparative life cycle costs for new steel portal frame building systems. Building Research & Information, 30(01), 35–46.

Kus, H and Nygren, K (2002) Microenvironmental characterization of rendered autoclaved aerated concrete. Building Research & Information, 30(01), 25–34.

Lahdenperä, P (2012) Making sense of the multi-party contractual arrangements of project partnering, project alliancing and integrated project delivery. Construction Management and Economics, 30(01), 57–79.

Ruan, X, Ochieng, E G, Price, A D F and Egbu, C O (2012) Knowledge integration process in construction projects: a social network analysis approach to compare competitive and collaborative working. Construction Management and Economics, 30(01).

Shipworth, D T (2002) A stochastic framework for embodies greenhouse gas emissions modelling of construction materials. Building Research & Information, 30(01), 16–24.

Tabish, S Z S and Jha, K N (2012) The impact of anti-corruption strategies on corruption free performance in public construction projects. Construction Management and Economics, 30(01), 21–35.