2021
DOI: 10.3846/jcem.2021.14344
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Enhancement of Bid Decision-Making in Construction Projects: A Reliability Analysis Approach

Abstract: Various risks significantly influence pricing of bids and a wide range of factors impact bid pricing risks. Of these, client’s reputation and the record of projects owned by a client have vital contribution on the issue. Current practices however fail to capture the impacts of client-related factors. There is a need for developing a practical quantitative approach, which enables estimators to process bid risk allocation easily. Through reliability analysis, the developed method proposed in this study enables p… Show more

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Cited by 17 publications
(10 citation statements)
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“…(2020) proposed a reliability-based evaluation framework to predict major changes in social PPPs. Ghodoosi et al. (2021) estimated the probability of project failure by using reliability analysis to quantify the uncertainty of schedule and cost overruns.…”
Section: Reliability and Performance Evaluation For Education Ppps: L...mentioning
confidence: 99%
See 1 more Smart Citation
“…(2020) proposed a reliability-based evaluation framework to predict major changes in social PPPs. Ghodoosi et al. (2021) estimated the probability of project failure by using reliability analysis to quantify the uncertainty of schedule and cost overruns.…”
Section: Reliability and Performance Evaluation For Education Ppps: L...mentioning
confidence: 99%
“…The application of reliability theory in construction projects has also gradually become popular, especially due to the changing environment (Geng et al. , 2020; Ghodoosi et al. , 2021; Wang et al.…”
Section: Reliability and Performance Evaluation For Education Ppps: L...mentioning
confidence: 99%
“…For example, when the aforementioned collapse in Dongguan construction process caused casualties, there is a certain correlation between the two risk factors of "collapse accident" and "casualties"; when the collapse was caused by bad weather changes, there is a certain correlation between the two risk factors of "collapse accident" and "casualties" [3]. ere is also a correlation between "severe weather change" and "occurrence of collapse" [4]. ere are many other examples of correlation between risk factors, but the current theoretical research does not have a precise definition of risk correlation, and the risk correlation is not taken into account in the research of project risk decision model, which leads to the lack of accuracy and applicability of the risk decision model [5].…”
Section: Introductionmentioning
confidence: 99%
“…The estimated quantity and cost determine the amount of material, labor, and equipment used to complete a construction project accurately and within schedule. Quantity take-off is a detailed measurement of the material required to complete a construction project (Ghodoosi et al, 2021). To accurately measure the quantity, the calculation should be in detail and accurate to avoid miscalculations that could significantly impact the quantity of the final results of the work and the cost incurred.…”
Section: Introductionmentioning
confidence: 99%