Risk assessment on contractors' pricing strategies
In competitive tendering, pricing strategies are used to facilitate the contractors' cash-flows. Often the decisions are based on contractors' experiences, intuitions, and personal bias. Inevitably, an unexpected deficit may become inherent risks of the project. A new approach, risk ass...
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sg-ntu-dr.10356-425872023-03-03T19:28:49Z Risk assessment on contractors' pricing strategies Xu, Tian Ji. Tiong Lee Kong, Robert School of Civil and Structural Engineering DRNTU::Engineering::Civil engineering::Construction management In competitive tendering, pricing strategies are used to facilitate the contractors' cash-flows. Often the decisions are based on contractors' experiences, intuitions, and personal bias. Inevitably, an unexpected deficit may become inherent risks of the project. A new approach, risk assessment on contractors' pricing strategies is presented in this dissertation. Existing mark-up or cash-flow forecasting models simulate the pricing strategies in a simplified manner which may depart from real world and therefore, lead the inaccurate cash-flow forecasting. The models could hardly quantify risks associated with pricing strategies. In real world, the quantities of break-down cost items are random variables. The approach developed here enables the contractor to find the global optimal pricing through the stochastic programming model. Further, the risks caused by contractors' pricing strategies are assessed by risk identification and risk quantification. A real case analysis using the approach is shown. Finally, the risk control issues are discussed. Master of Science (International Construction Management) 2011-01-04T02:06:06Z 2011-01-04T02:06:06Z 1999 1999 Thesis http://hdl.handle.net/10356/42587 en 120 p. application/pdf |
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DRNTU::Engineering::Civil engineering::Construction management Xu, Tian Ji. Risk assessment on contractors' pricing strategies |
description |
In competitive tendering, pricing strategies are used to facilitate the contractors'
cash-flows. Often the decisions are based on contractors' experiences, intuitions,
and personal bias. Inevitably, an unexpected deficit may become inherent risks of
the project. A new approach, risk assessment on contractors' pricing strategies is
presented in this dissertation. Existing mark-up or cash-flow forecasting models
simulate the pricing strategies in a simplified manner which may depart from real
world and therefore, lead the inaccurate cash-flow forecasting. The models could
hardly quantify risks associated with pricing strategies. In real world, the quantities of break-down cost items are random variables. The approach developed here
enables the contractor to find the global optimal pricing through the stochastic
programming model. Further, the risks caused by contractors' pricing strategies are
assessed by risk identification and risk quantification. A real case analysis using the approach is shown. Finally, the risk control issues are discussed. |
author2 |
Tiong Lee Kong, Robert |
author_facet |
Tiong Lee Kong, Robert Xu, Tian Ji. |
format |
Theses and Dissertations |
author |
Xu, Tian Ji. |
author_sort |
Xu, Tian Ji. |
title |
Risk assessment on contractors' pricing strategies |
title_short |
Risk assessment on contractors' pricing strategies |
title_full |
Risk assessment on contractors' pricing strategies |
title_fullStr |
Risk assessment on contractors' pricing strategies |
title_full_unstemmed |
Risk assessment on contractors' pricing strategies |
title_sort |
risk assessment on contractors' pricing strategies |
publishDate |
2011 |
url |
http://hdl.handle.net/10356/42587 |
_version_ |
1759856812102778880 |