Competitive bidding in the construction industry

[Extract from introduction] This paper presents the results of normative research on competitive bidding in the construction industry. A prescriptive sequential bidding model is developed for use by a contractor. This model takes into account the resources of the firm and will guide the firm in deciding on which jobs to bid and how much to bid. The research will also illustrate how the model and data would be used in actual bidding situations in the construction industry and the practicality of its use will be evaluated. The study will deal with competitive bidding for prime contracts by general contractors with particular emphasis on building construction contracts awarded on a lump sum basis to the lowest qualified bidder.