The distribution of construction project bids

Skitmore, Martin (1987) The distribution of construction project bids. In Proceedings 4th International Symposium on Building Economics, The International Council for Building Research, Studies and Documentation, CIB W-55, , Danish Building Research Institute- SBI Copenhagen Denmark, pp. 171-183.

Abstract

This paper describes an analysis of construction project bids to determine (a) the global distribution and (b) factors influencing the distribution of bids. The global distribution of bids was found, by using a battery of ll test statistics, to be approximated by a three-parameter log normal distribution. No global spread parameter was found. A multivariate analysis revealed the year of tender to be the major influencing factor. Consideration of the construction order, tender price and output indices lead to the conclusion that distributional spread reflected the degree of difference in pricing policies between bidders and the skewness of the distributions reflected the degree of competition. The paper concludes with a tentative model of the causal relationships between the factors and distributional characteristics involved.

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ID Code: 59698
Item Type: Conference Paper
Refereed: Yes
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200) > Quantity Surveying (120203)
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Copyright Owner: Copyright 1987 (please consult the author).
Deposited On: 06 May 2013 06:11
Last Modified: 06 May 2013 06:13

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