Fundamental Research in Bidding and Estimating
Skitmore, Martin (1988) Fundamental Research in Bidding and Estimating. In British/Israeli Seminar on Building Economics; The International Council for Building Research Studies and Documentation, CIB W-55, Haifa, Israel.
Since Friedman, fundamental research in construction contract bidding and estimating has been concerned with the full problem definition, formulation and calibration. The general problem definition is now virtually complete in that bidding involves sequential and simultaneous decisions to be made over time, under conditions of uncertainty, and with multiple, conflicting objectives. Problem formulation has been rather haphazard and many ad hoc models have been used, often with very little empirical support. A major reason for this appears to be the lack of any real rival to Friedman’s implicit theoretical base. This paper examines the approaches and models used in research with a view to the ultimate development of some theory on the subject.
Firstly, the relationship between bidding and estimating is considered along with the role of cost, price and other estimates. Secondly, the criticisms of Friedman’s model are examined and in particular the efficacy of statistical models representing the various parts of the problem. Finally, research n estimating accuracy is considered in terms of influencing factors and research methodology. Key words: Bidding, estimating, statistical models.
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|Item Type:||Conference Paper|
|Subjects:||Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Quantity Surveying (120203)|
Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Building Construction Management and Project Planning (120201)
|Divisions:||Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering|
|Copyright Owner:||Copyright 1988 (please consult author)|
|Deposited On:||21 Jun 2006|
|Last Modified:||09 Jun 2010 22:33|
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