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Al-Shawi, M and Hope, A E (1989) Expert systems and contractual disputes: extension of time under JCT 80. Construction Management and Economics, 7(01), 65-74.

Green, S D (1989) Tendering: optimization and rationality. Construction Management and Economics, 7(01), 52-63.

  • Type: Journal Article
  • Keywords: environment; estimating; rationality; systems theory; tendering
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446198900000006
  • Abstract:

    There have been various techniques published for optimizing the net present value of tenders by the use of discounted cash-flow theory and linear programming. These approaches to tendering appear to have been largely ignored by the industry. This paper utilizes six case studies of tendering practice in order to establish reasons for this apparent disregard. Tendering is demonstrated to be a market oriented function with many subjective judgments being made regarding a firm’s environment. Detailed consideration of ’internal’ factors such as cash-flow are therefore judged to be unjustified. Systems theory is then drawn upon and applied to the separate processes of estimating and tendering. Estimating is seen as taking place in a relatively sheltered environment and as such operates as a relatively closed system. Tendering, however, takes place in a changing and dynamic environment and as such must operate as a relatively open system. The use of sophisticated models to optimize the value of tenders is then identified as being dependent upon the assumption of rationality, which is justified in the case of a relatively closed system (i.e. estimating), but not for a relatively open system (i.e. tendering).

Handa, V K and Abdalla, O (1989) Forecasting productivity by work sampling. Construction Management and Economics, 7(01), 19-28.

Hughes, W (1989) Identifying the environments of construction projects. Construction Management and Economics, 7(01), 29-40.

Kenley, R and Wilson, O D (1989) A construction project net cash-flow model. Construction Management and Economics, 7(01), 3-18.

Olomolaiye, P O and Ogunlana, S O (1989) An evaluation of production outputs in key building trades in Nigeria. Construction Management and Economics, 7(01), 75-86.

Tan, W (1989) Sub-sector fluctuations in construction. Construction Management and Economics, 7(01), 41-51.