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Full-Text Articles in Construction Engineering
Review Of Unbalanced Bidding Models In Construction, David W. Cattell, Paul A. Bowen, Ammar P. Kaka
Review Of Unbalanced Bidding Models In Construction, David W. Cattell, Paul A. Bowen, Ammar P. Kaka
David Cattell
Unbalanced bidding describes an activity otherwise known as item price loading. It is a practice used to some extent by building contractors to determine the prices that they will allocate to the individual component items within a project. This practice takes advantage of the contractor’s opportunity to manipulate these prices without this affecting their overall bid price for a project. Three types of loading are described, namely those of “front-end loading”, “back-end loading”, and “quantity error exploitation” (otherwise known as “individual rate loading”). Several scientists have expressed an interest in this field, starting with Marvin Gates in 1959. All of …
A Model To Distribute Mark-Up Amongst Quotation Component Items: An Outline, David Cattell, Paul A. Bowen, Ammar P. Kaka
A Model To Distribute Mark-Up Amongst Quotation Component Items: An Outline, David Cattell, Paul A. Bowen, Ammar P. Kaka
David Cattell
The outline of a proposed new unbalanced bidding model is discussed. Background is provided as regards the role of item price loading, otherwise known as unbalanced bidding. Three types of loading are described, namely those of ‘front-end loading’, ‘back-end loading’ and ‘quantity error exploitation’ (otherwise known as ‘individual rate loading’). It is proposed that one single mathematical model could embrace all three of the above types and that the aspect of risk may be addressed partially by means of using the quadratic programming techniques employed within the field of Modern Portfolio Theory. MPT is a field pioneered by Markowitz in …