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Improving Construction Management Through Advanced Computing and Decision Making

Improving Construction Management Through Advanced Computing and Decision Making

Varun Gupta, Aditya Raj Gupta, Utkarsh Agrawal, Ambika Kumar, Rahul Verma
Copyright: © 2020 |Pages: 15
ISBN13: 9781522596592|ISBN10: 1522596593|ISBN13 Softcover: 9781522596608|EISBN13: 9781522596615
DOI: 10.4018/978-1-5225-9659-2.ch006
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MLA

Gupta, Varun, et al. "Improving Construction Management Through Advanced Computing and Decision Making." Crowdsourcing and Probabilistic Decision-Making in Software Engineering: Emerging Research and Opportunities, edited by Varun Gupta, IGI Global, 2020, pp. 94-108. https://doi.org/10.4018/978-1-5225-9659-2.ch006

APA

Gupta, V., Gupta, A. R., Agrawal, U., Kumar, A., & Verma, R. (2020). Improving Construction Management Through Advanced Computing and Decision Making. In V. Gupta (Ed.), Crowdsourcing and Probabilistic Decision-Making in Software Engineering: Emerging Research and Opportunities (pp. 94-108). IGI Global. https://doi.org/10.4018/978-1-5225-9659-2.ch006

Chicago

Gupta, Varun, et al. "Improving Construction Management Through Advanced Computing and Decision Making." In Crowdsourcing and Probabilistic Decision-Making in Software Engineering: Emerging Research and Opportunities, edited by Varun Gupta, 94-108. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-5225-9659-2.ch006

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Abstract

This chapter proposes an algorithm to make the bidding dynamic by not only awarding tenders on basis of cost quoted in tenders (biding cost) but also on contractor ratings. The ratings of contractors are computed using historical performance of contractor. The chapter empirically identifies the factors to rate the contractors. The historical values associated with the performance rating parameters are then combined using the “controlled values” which one assumed to standard across the industry, to yield the overall weighted rating of firms. This rating is then combined with the bidding cost, thereby making the selection of contractor dynamic. The selected contractor is paid bidding cost. The algorithm is executed a hypothetical value to illustrate the approach. A web-based tool had been proposed to automate the process of making the bidding dynamic.

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