Analysis & Optimization to Improve the Tedious Tender Process in Civil Construction Industry

The tender evaluation processes requires the development of necessary and sufficient criteria. Selecting a suitable contractor to execute a particular project is an important decision for the client to take. Awarding construction contracts based on the price only is not always a successful strategy as it could result in construction delays and cost overruns. The decision to bid is a major financial decision because of two reasons. First, the contractor assumes substantial costs for the preparations of the estimates and the tender at the risk of not recovering them if he is not awarded the job. Second, and most importantly, the contractor commits himself to investment in the construction of the project if he wins the tender.