Simulating and comparing various price-driven bid selection methods from an owner's perspective. (c2017)

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dc.contributor.author Ammoury, Michael Fayez
dc.date.accessioned 2018-03-06T12:23:39Z
dc.date.available 2018-03-06T12:23:39Z
dc.date.copyright 2017 en_US
dc.date.issued 2018-03-06
dc.date.submitted 2017-07-12
dc.identifier.uri http://hdl.handle.net/10725/7189
dc.description.abstract In the construction industry, it is crucial for owners to select the appropriate contract delivery method in order to achieve best performance on their projects. The low bid method has been the most common competitive bid selection approach used for public projects in the U.S. construction industry and worldwide. Although the latter method ensures transparency in the selection process through considering only one objective criterion which is the bid price, it often leads to adversarial relationships, less cooperation among different parties involved in the project, and potential compromise on the project quality. Furthermore, it is often accompanied with a significant number of claims and disputes that often result in cost overruns and schedule delays. Thus, there is a need to explore alternative competitive price-driven bidding methods which can preserve the transparency of the low bid method and at the same time remedy the inconvenience of unrealistic low bids. This thesis uses agent based modeling in order to simulate the interactions among contractors with varying risk behavior and project management skill levels under different competitive tendering approaches including the second low, average, below-average, truncated average and truncated below-average bidding methods. This platform allows the observation of emergent market patterns with regard to the evolution of bid prices under each of the simulated tendering approaches, which helps owners choose the most suitable tendering method for their current project and the existing market conditions. en_US
dc.language.iso en en_US
dc.subject Dissertations, Academic en_US
dc.subject Lebanese American University -- Dissertations en_US
dc.subject Construction contracts en_US
dc.subject Letting of contracts en_US
dc.title Simulating and comparing various price-driven bid selection methods from an owner's perspective. (c2017) en_US
dc.type Thesis en_US
dc.term.submitted Summer en_US
dc.author.degree MSE in Civil and Environment Eng en_US
dc.author.school SOE en_US
dc.author.idnumber 200500916 en_US
dc.author.commembers Abi Shdid, Caesar en_US
dc.author.commembers Khoury, Hiam en_US
dc.author.department Civil Engineering en_US
dc.description.embargo 24M en_US
dc.description.physdesc 1 hard copy: xiv, 174 leaves; 31 cm. available at RNL. en_US
dc.author.advisor Awad, Rita en_US
dc.keywords Agent-Based Modeling en_US
dc.keywords Owner’s Perspective en_US
dc.keywords Comparison en_US
dc.keywords Price-Driven en_US
dc.keywords Low Bid Method en_US
dc.keywords Second Low bid Method en_US
dc.keywords Bid Selection Methods en_US
dc.keywords Average Bid Method en_US
dc.keywords Below Average Bid Method en_US
dc.keywords Truncated Bid Method en_US
dc.keywords Alternative Bid Methods en_US
dc.description.bibliographiccitations Bibliography : leaves 153-159. en_US
dc.identifier.doi https://doi.org/10.26756/th.2018.40 en_US
dc.author.email michael.ammoury@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/thesis.php en_US
dc.publisher.institution Lebanese American University en_US
dc.description.embargoreason Opportunity to publish en_US
dc.author.affiliation Lebanese American University en_US

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