A support vector machine method for bid/no bid decision making

Sönmez, Rifat; Sözgen, Burak

doi:10.3846/13923730.2017.1281836

Cited by 31 publications

(21 citation statements)

References 37 publications

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“…First, project-to-bid is one of the most crucial decision factors. A contractor's determination to bid is likely due to the attractiveness of a project's location [4], type [4], size [26], complexity [27], and profit track record for similar projects [28]. Second, clients' requirements are another aspect that contractors should pay attention to.…”

Section: Contractors' Bnb Decision Factorsmentioning

confidence: 99%

Will Bid/No-Bid Decision Factors for Construction Projects Be Different in Economic Downturns? A Chinese Study

Wang

Lin

et al. 2020

Applied Sciences

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Whether to bid on construction work is a traditional question that is often challenged in different economic situations. What will the decision factors be when contractors have to struggle to achieve growth in economic downturns? Since previous studies have not widely agreed with each other on this issue, this study aims to examine China’s construction engineering contractors in recent “bad” years. The research findings reveal that the cluster related to expected profitability, including terms of payment, reputation of the client regarding his/her commitment to making timely payments, original price estimated by the client, profit track record for similar projects, and contract type, were the most significant determinants. The bid/no-bid decision-making process comprises three modules, including the contractor’s strategies, the contractor’s competency for a project, and expected competition. These results suggest that competing for survival is the dominant position of contractors in making bid/no-bid decisions in economic downturns.

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Section: Contractors' Bnb Decision Factorsmentioning

confidence: 99%

Will Bid/No-Bid Decision Factors for Construction Projects Be Different in Economic Downturns? A Chinese Study

Wang

Lin

et al. 2020

Applied Sciences

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“…The study in [19] describes improvements on the existing bid decision-making methods by means of the application of support vector machines and backward elimination regression. In particular, the method helps to attain a parsimonious support vector machine classifier facilitating bid/no bid decision making in offshore oil and gas platform fabrication projects.…”

Section: Methods Name Aim Of Analysis Number Of Criterion Used Sourcementioning

confidence: 99%

Fuzzy AHP Application for Supporting Contractors’ Bidding Decision

et al. 2018

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This paper proposes the author’s model based on the Fuzzy Analytic Hierarchy Process (FAHP) to improve the efficiency of contractor bidding decisions. The essence of the AHP method is to make pairwise comparisons of available options against all evaluation criteria. The results of these comparisons are recorded in a square matrix in which symmetrical elements are reciprocal. In the expert opinion, a 9-step, bipolar verbal scale was used so that the symmetry of the response was maintained. For contractors from countries where the tendering system is commonly used, the choice of the right tender in which to participate influences their image, financial condition, and their aspiration to succeed. The bid/no bid decision depends on numerous factors associated with the company itself, the environment, and the project concerning the tender. When facing tough competition, contractors search for a solution which increases their chances of winning the tender. The proposed model was based on factors selected by Polish contractors. The original element of the model involves 4 original criteria and 15 sub-criteria for the assessment of investment decision projects to the selection of the most advantageous contract, i.e., the contractor’s participation in the bid. For verbal evaluations describing the criteria, symmetric triangular fuzzy numbers were assigned. The authors performed an extended analysis method combined with FAHP in the model. Fuzzy evaluations underwent elaborate analysis, the aim of which was to specify the synthetic priority weights for each criterion. As a result of the application of the method, to prove that the model works, an example from the Polish construction market was presented in which a bid/no bid decision about four possible tenders was to be taken. Despite the considered example applying to Polish conditions, the proposed model can be used also in other countries. The authors’ rationale is to produce new and more flexible methodologies in order to realistically model a variety of concrete decision problems.

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“…Regional stability and the condition of market greatly influence the bidding behaviors of the contractors (Enshassi et al, 2010;Sonmez & Sözgen, 2017). CCF's bidding decisions are staunchly emphasized upon the external conditions and number of competitors in the region, their strengths and their stability.…”

Section: Literature Reviewmentioning

confidence: 99%

Extrinsic factors influencing the bid/no-bid decision of construction contracting firms: Impact of firm size and experience

Maqsoom

Ashraf

Choudhry

et al. 2020

rdlc

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Construction contracting firms (CCFs) are functioning in a highly volatile and competitive industrial environment making it imperative to bid for the projects that can produce the most return and market share. The decision making process to bid or not is based on various factors that vary from project to project and firm to firm. The aim of this work is to analyze the impact of firm size and experience on extrinsic factors influencing the bid/no-bid decision for construction projects. The questionnaire was pilot tested and designed in three parts. The final questionnaire was sent to 300 CCFs registered with Pakistan Engineering Council (PEC) and respondents were asked to rate the factors on a Likert scale. Out of 300 questionnaires, 167 completed responses are returned representing a response rate of 56%. The collected data are then analyzed using Mann-Whitney U test through Statistical Package for Social Sciences (SPSS). Findings show the various degrees of differences between small and large, and young and mature CCFs with regard to factors influencing the bid/no-bid decision. Small firms need to overcome increasing market value and number of competitors in the market. They need to develop relationship with government officials in order to secure their bids. Mature firms need to review the payment practices of clients, politician pressure and business level of the client before entering into the bid. Availability of required material and skilled labor are of prime importance for the mature firms' success.

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A support vector machine method for bid/no bid decision making

Cited by 31 publications

References 37 publications

Will Bid/No-Bid Decision Factors for Construction Projects Be Different in Economic Downturns? A Chinese Study

Will Bid/No-Bid Decision Factors for Construction Projects Be Different in Economic Downturns? A Chinese Study

Fuzzy AHP Application for Supporting Contractors’ Bidding Decision

Extrinsic factors influencing the bid/no-bid decision of construction contracting firms: Impact of firm size and experience

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