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Chau, K W and Walker, A (1988) The measurement of total factor productivity of the Hong Kong construction industry. Construction Management and Economics, 6(03), 209-24.
Fazio, P, Moselhi, O, Theberge, P and Revay, S O (1988) Design impact of construction fast-track. Construction Management and Economics, 6(03), 195-208.
Herzog, H W and Schlottmann, A M (1988) Local business cycle severity and induced labour mobility: the case of the construction workforce. Construction Management and Economics, 6(03), 247-58.
Tan, W (1988) GNP, interest rate and construction investment: empirical evidence from USA data. Construction Management and Economics, 6(03), 185-93.
Wilson, O D and Sharpe, K (1988) Tenders and estimates: a probabilistic model. Construction Management and Economics, 6(03), 225-45.
- Type: Journal Article
- Keywords: bidding; estimate; tendering
- ISBN/ISSN: 0144-6193
- URL: https://doi.org/10.1080/01446198800000020
- Abstract:
Problems faced by building project procurement agencies have been given only minor attention in the literature. When setting the rules of the tendering competition it is desirable that there be an appropriate balance between reasonable competition and a reasonable cost of competition. This paper examines some 410 projects obtained by a large state government instrumentally and proposes a model to describe the procurement system. It is probable that the lump sum competitive price in advance system of procurement is unsuitable for small renovation-type works. Larger projects having Bills of Quantities performed very well and satisfactorily results can be obtained by inviting four tenders per project. Some suggestions are made for improving the quality of the professional estimate.