Oukan (Journal of Transdisciplinary Federation of Science and Technology)
Online ISSN : 2189-6399
Print ISSN : 1881-7610
ISSN-L : 1881-7610
Original Paper
A Revised Algorithm for Competitive Bidding Price Decision under Limited Engineering Man-Hours in EPC Projects
Nobuaki ISHIIYuichi TAKANOMasaaki MURAKI
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JOURNALS OPEN ACCESS

2016 Volume 10 Issue 1 Pages 47-56

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Abstract

To determine the bidding prices in Engineering-Procurement-Construction (EPC) projects, where contract prices are fixed, the contractor needs to consider the accuracy of estimated project cost under the limited engineering Man-Hours (MH) for cost estimation to attain maximum profit from or- ders. In this paper, we develop an algorithm where, in order to attain maximum profit, bidding prices are determined by allocating MH for cost estimation and adjusting bidding prices simultaneously in consideration of the competitive bidding environments, and the cost estimation accuracy under the constraint of the total MH and the deficit risk of each order. Through numerical examples delivered from the algorithm, we show that the developed algorithm is effective for bidding price decision in EPC projects.

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この記事はクリエイティブ・コモンズ [表示 - 非営利 4.0 国際]ライセンスの下に提供されています。
https://creativecommons.org/licenses/by-nc/4.0/deed.ja
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