Classification model for bid/no-bid decision in construction projects

For construction companies, the decision about whether to bid for a project is a strategic decision. This paper provides a model for assessing project attractiveness levels and deciding whether to submit a proposal. The model introduces a classification model that incorporates fuzzy preferential information to evaluate project attractiveness under multiple dimensions and enables the decision-maker to make more effective decisions. Projects are assigned to ordinal categories of attractiveness based on an adapted fuzzy ELECTRE TRI-C procedure. The main advantages of this model are that the attractiveness level can be used as an input for the bidding strategies, the attractiveness evaluation can support the contractor in prioritizing the projects to bid on, and the model captures the decision process's subjective assessments and situations of imprecision observed on early phases of the project life cycle.

Automated summary

This paper introduces a model for assessing project attractiveness levels and guiding the decision-making process of whether to bid for a project. The model helps contractors prioritize projects to bid on and captures the uncertainty observed in the early phases of the project life cycle.