Assessment and evaluation of contractor data against client goals using pert approach

Abstract

A methodology for assessing and evaluating contractor data for the purpose of prequalification and bid evaluation is presented. The PERT approach is used to develop a linear model for the assessment of contractor data. The model incorporates a multiple ratings permitting the uncertainty in contractor data to be evaluated. An empirical study investigating the importance of different contractor criteria is described. A lexicographical ordering with aspiration levels and risk analysis with sensitivity methods are used to evaluate and select or rank order contractors against the main client goals of time, cost, and quality. A literature review is reported regarding client goals and current evaluation strategies. The assumptions, advantages and disadvantages of this work as well as an example is also presented.