Multi-attribute contractors selection on the basis of bayes rule
Z. Turskis
Dept of construction technology and management,Vilnius Gediminas Technical University
Annotation: Contractor evaluation is a vital part of the project management cycle and deals with risk and risk management. One of the most important phases in the construction industry is the bidding process. In order to select the most appropriate contractor for the project and prepare the most realistic and accurate bid proposal, stakeholders have to know all financial, technical and general information about these contractors. The information can be determined as qualitative or quantitative data. This paper presents the multi-attribute contractors ranking method by applying Bayes rule. This method allows dealing with qualitative as well as with quantitative data. Finally, an illustrative example of contractor selection is used to demonstrate the feasibility and practicability of the proposed model.
Keywords: construction, contractor, multi-attribute, evaluation, pre-qualification, decision-making, Bayes rule
Pages: 61-72.
Link for citation: Turskis, Z. Multi-attribute contractors selection on the basis of bayes rule. – Text : electronic. – In: Economics of Civil Engineering and Municipal Economy. – 2008. – Vol. 4, N 2. – Р. 61-72. – URL: https://donnasa.ru/publish_house/journals/esgh/2008-2/01_turskis.pdf (date of access: 27.07.2024). (in Russian)
Vol. 4, N 2 (2008)Journal: Economics of Civil Engineering and Municipal Economy
Publish house: Donbas National Academy of Civil Engineering and Architecture