Contractor selection criteria: a cost-benefit analysis

S. Thomas Ng · Martin Skitmore

40 citations0/0 files storedIEEE Transactions on Engineering Management

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Construction Project Management and Performance Multi-Criteria Decision Making Public Procurement and Policy

Abstract

This paper describes an empirical study aimed at ranking prequalification criteria on the basis of perceived total cost-benefit to stakeholders. A postal questionnaire was distributed to 100 client and contractor organizations in Australia in 1997. Forty-eight responses were analyzed for scores on 38 categories of contractor information in terms of "value to client" "contractor costs," "client costs," and "value for money." The client and contractor responses for "value to client" and "client costs" of processing were found to be homogeneous. Those for "contractor costs" and "value for money" differed significantly between the clients and the contractors. A simple linear regression analysis was used to model the responses, and an index of cost-benefit was derived for each of the categories. This was found to be superior to all of the nonlinear alternatives examined. The model was also found to have greater intuitive value than the equivalent raw "value for money" responses.

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References

1976The Economic Approach to Human Behavior 1981Manuel d'économie politique 1997Criteria for contractor selection 1997Evaluating contractor prequalification data: selection criteria and project success factors 1988Decision Criteria in Contractor Prequalification 1994Factors influencing U.K. construction clients' choice of contractor 1992Contractor prequalification data for construction owners 1990BID EVALUATION FOR UK PUBLIC SECTOR CONSTRUCTION CONTRACTS.

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2014A Group Decision-Making Aggregation Model for Contractor Selection in Large Scale Construction Projects Based on Two-Stage Partial Least Squares (PLS) Path Modeling 2011A decision support system for contractor prequalification for surety bonding

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