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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Main Author: Xu, Tian Ji.
Other Authors: Tiong Lee Kong, Robert
Format: Theses and Dissertations
Language:English
Published: 2011
Subjects:
Online Access:http://hdl.handle.net/10356/42587
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Institution: Nanyang Technological University
Language: English
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spelling 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
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Engineering::Civil engineering::Construction management
spellingShingle 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
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