Decision Criteria in Contractor Prequalification

Russell, Jeffrey S.; Skibniewski, Mirosław J.

doi:10.1061/(asce)9742-597x(1988)4:2(148)

Cited by 176 publications

(75 citation statements)

References 2 publications

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“…Russel and Skibniewski [23] tried to describe the contractor prequali®cation process along with the decision-making strategies and the factors that in¯uence the process. They reported ®ve methods that they found in use for contractor prequali®cation: dimensional weighting, two-step prequali®cation, dimension-wide strategy, prequali®cation formula, and subjective judgment.…”

Section: Application Of the Ahp In Project Managementmentioning

confidence: 99%

Application of the AHP in project management

Al‐Harbi

2001

International Journal of Project Management

848

289

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This paper presents the Analytical Hierarchy Process (AHP) as a potential decision making method for use in project management. The contractor prequali®cation problem is used as an example. A hierarchical structure is constructed for the prequali®cation criteria and the contractors wishing to prequalify for a project. By applying the AHP, the prequali®cation criteria can be prioritized and a descending-order list of contractors can be made in order to select the best contractors to perform the project. A sensitivity analysis can be performed to check the sensitivity of the ®nal decisions to minor changes in judgements. The paper presents group decision-making using the AHP. The AHP implementation steps will be simpli®ed by using the`Expert Choice' professional software that is available commercially and designed for implementing AHP. It is hoped that this will encourage the application of the AHP by project management professionals. #

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Section: Application Of the Ahp In Project Managementmentioning

confidence: 99%

Application of the AHP in project management

Al‐Harbi

2001

International Journal of Project Management

848

289

View full text Add to dashboard Cite

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“…The pioneering work of Russell and Skibniewski [6] in the United States identified five levels of prequalification criteria: 1) references, reputation, and past performance; 2) financial stability; 3) status of current work programs; 4) technical expertise; and 5) project-specific criteria. Holt et al [7] also identified five general prequalification criteria in a survey of U.K. contractors: the contractor's organization, financial considerations, management resource, past experience, and past performances.…”

Section: Previous Studiesmentioning

confidence: 99%

“…Many researchers have, however, suggested that the exactitude of prequalification decisions may be improved by examining additional decision criteria, such as health and safety, quality assurance and control, and so on [6], [7].…”

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confidence: 99%

Contractor selection criteria: a cost-benefit analysis

Skitmore

2001

IEEE Trans. Eng. Manage.

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Abstract-This paper describes an empirical study aimed at ranking prequalification criteria on the basis of perceived total cost-benefit to stakeholders. A postal questionnaire was distributed to 100 client and contractor organizations in Australia in 1997. Forty-eight responses were analyzed for scores on 38 categories of contractor information in terms of "value to client," "contractor costs," "client costs," and "value for money." The client and contractor responses for "value to client" and "client costs" of processing were found to be homogeneous. Those for "contractor costs" and "value for money" differed significantly between the clients and the contractors. A simple linear regression analysis was used to model the responses, and an index of cost-benefit was derived for each of the categories. This was found to be superior to all of the nonlinear alternatives examined. The model was also found to have greater intuitive value than the equivalent raw "value for money" responses.

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“…Russell and Skibniewski [1] suggested that the prequalification of contractors plays a major role in determining the success or failure of a construction project. Previous studies have suggested that prequalifying a contractor should encompass financial stability, technical ability, management capability, health and safety, as well as reputation [1], [2]. However, this information heavily relies on the subjective assessments of decision makers to identify the weights.…”

Section: Introductionmentioning

confidence: 99%

Financial Prequalification for a Contractor by using a Dynamic Threshold Cash Flow Based Model

Huang¹,

Liao²,

Tserng³

et al. 2013

IJET

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Abstract-Prequalification plays a crucial role in selecting a capable contractor in construction project. Contractor prequalification studies seldom address contractor financial risk, despite the importance of contractor's evaluation in successful project completion. Based on a cash flow based structural model using the dynamic threshold by Liao, Chen and Su, this study evaluates the credit quality of construction contractor. Via uses of the area under curve (AUC), the discriminatory performance of the cash flow model in ranking the credit qualities of construction contractors for three year is evaluated, in whichS & P issuer credit ratings are used as the benchmarks. Empirical results indicate that the proposed model has an excellent discriminatory power under AUC. Result of this study demonstrates that the proposed model is highly effective in evaluating the credit risk of construction contractors. Importantly, the proposed model only requires financial statement, making it applicable to both listed and private construction contractors.

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Decision Criteria in Contractor Prequalification

Cited by 176 publications

References 2 publications

Application of the AHP in project management

Application of the AHP in project management

Contractor selection criteria: a cost-benefit analysis

Financial Prequalification for a Contractor by using a Dynamic Threshold Cash Flow Based Model

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