|dc.contributor.advisor||Torrance, Professor Victor B.||
|dc.contributor.advisor||Scott,Dr W. F.||
|dc.contributor.author||Teo, Ho Pin||en
|dc.description.abstract||This study is concerned with the management of risks in competitive bidding for
refurbishment work (lump sum contracts). It investigates the main difficulties and risks
faced by contractors when they are making decisions in competitive bidding as a result of
the general lack of information both inside and outside a contractor's organisation.
A decision support and risk management system model is developed which provides a
systematic and objective approach to risk management in competitive bidding for
refurbishment work. The model provides a framework whereby both quantitative (tender
bid records) and qualitative (risk perception of contractors) information may be obtained
to support the decisions of contractors during tendering.
The research adopts a combination of both Archival and Opinion research methodologies
to build up two main databases consisting of tender bid records and information on the
risk perception of contractors during tendering.
From the analysis, a decision support and risk management system is developed consisting
of six modules namely: (i) Module 1 - Databases of tender bid records and Repertory grid
data, (ii) Module 2 - General information of bidding characteristics, (iii) Module 3 -
Contractor's analysis, (iv) Module 4 - Competitor's analysis, (v) Module 5 - Bidding
models, and (vi) Module 6 - Risk management system.
This study has demonstrated that past tender bid records of contractors may be organised
in a systematic way to provide invaluable strategic information to enhance the
understanding of contractors with respect to their competitive bidding environments, their
own bidding performance and the bidding behaviour of their competitors, thereby enabling
contractors to manage risks more effectively and efficiently.||
|dc.publisher||Building Engineering and Surveying||en
|dc.rights||All items in ROS are protected by the Creative Commons copyright license (http://creativecommons.org/licenses/by-nc-nd/2.5/scotland/), with all rights reserved.||en
|dc.title||Decision support and risk management system for competitive bidding in refurbishment work||en