Construction Engineering Bidding Risk Analysis

Fan Jing Yu; Jun Jie Li

doi:10.4028/www.scientific.net/AMR.671-674.2990

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 671-674Construction Engineering Bidding Risk Analysis

Construction Engineering Bidding Risk Analysis

Abstract:

In the Bill of Quantities mode, the bidder must take risks of his tender offer. This paper researched on the uncertainty of construction projects costs, proposed Monte Carlo simulation method and procedure to simulate the construction projects costs on the basis of the construction projects costs conform to the characteristics of normal distribution, and also put forward a method to calculate risks of the tender offer in accordance with the established bidding strategy, which are helpful to the risk management and control of project contracting enterprises.

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Periodical:

Advanced Materials Research (Volumes 671-674)

Pages:

2990-2994

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.671-674.2990

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Online since:

March 2013

Authors:

Fan Jing Yu, Jun Jie Li

Keywords:

Monte-Carlo Simulation, Risk, Tender Offer

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