A dynamic novel approach for bid/no-bid decision-making

The process of bid/no-bid decision-making is subjected to uncertainty and influence of complex criteria. This paper proposed an application of the integration of rough sets (RS) and improved general regression neural network (GRNN) based on niche particle swarm optimization (NPSO) algorithm for tendering decision making. The decision table of RS and the attribution reduction was processed by MIBARK algorithm to simply the samples of GRNN. In order to improve the general regression neural network (GRNN) network performance, the niche particle swarm optimization (NPSO) was used to optimize the spread parameters of GRNN neural network, then a novel Bid/no-bid decision model was established based on RS and NPSO-GRNN neural network algorithm. The applicability of the proposed model was tested using real cases in Beijing. The results indicate that NPSO-GRNN algorithm has an advantage such as in prediction accuracy and generalization ability. The proposed decision support system approach is useful to help manager to make better Bid/no-bid decisions in uncertain construction markets, so they can take steps to prevent bid distress.