TY - GEN
T1 - Uncertainty Factors Affecting Bid Price from Pre-Bid Clarification Document of Transport Construction Projects
AU - Jang, Ye Eun
AU - Son, Jeong Wook
AU - Yi, June Seong
N1 - Funding Information:
This work is supported by the Korea Agency for Infrastructure Technology Advancement (KAIA) grant funded by the Ministry of Land, Infrastructure and Transport (Grant 21ORPSB158109-02). Also, this work is supported by the Korea Agency for Infrastructure Technology Advancement (KAIA) grant funded by the Ministry of Land, Infrastructure and Transport (Grant 22ORPS-B158109-03).
Publisher Copyright:
© 2022 ASCE.
PY - 2022
Y1 - 2022
N2 - This study investigates the influence of the uncertainty factors in the pre-bid clarification document on bid price formation during the project bidding. To this end, civil projects from the California Department of Transportation were used as research data. This study randomly selected 50 sample data from each of 12 counties in 2008-2020: a total of 600. Within the data, this study examined the project uncertainty cases. Based on the analysis, four uncertainty factors: 'conflict' (UF1), 'impossibility' (UF2), 'lack' (UF3), and 'missing' (UF4) were extracted. With the project not containing any uncertainty factors as a control group, the project containing these uncertainty factors was designated as an experimental group. After comparing the bidder's price, the experimental group's bid price was formed at a higher level than the control group. This result suggests that uncertainty factors in bid documents induce bidders to set a high-bid price as a defense against uncertainty.
AB - This study investigates the influence of the uncertainty factors in the pre-bid clarification document on bid price formation during the project bidding. To this end, civil projects from the California Department of Transportation were used as research data. This study randomly selected 50 sample data from each of 12 counties in 2008-2020: a total of 600. Within the data, this study examined the project uncertainty cases. Based on the analysis, four uncertainty factors: 'conflict' (UF1), 'impossibility' (UF2), 'lack' (UF3), and 'missing' (UF4) were extracted. With the project not containing any uncertainty factors as a control group, the project containing these uncertainty factors was designated as an experimental group. After comparing the bidder's price, the experimental group's bid price was formed at a higher level than the control group. This result suggests that uncertainty factors in bid documents induce bidders to set a high-bid price as a defense against uncertainty.
UR - http://www.scopus.com/inward/record.url?scp=85128951768&partnerID=8YFLogxK
U2 - 10.1061/9780784483978.023
DO - 10.1061/9780784483978.023
M3 - Conference contribution
AN - SCOPUS:85128951768
T3 - Construction Research Congress 2022: Project Management and Delivery, Controls, and Design and Materials - Selected Papers from Construction Research Congress 2022
SP - 219
EP - 224
BT - Construction Research Congress 2022
A2 - Jazizadeh, Farrokh
A2 - Shealy, Tripp
A2 - Garvin, Michael J.
PB - American Society of Civil Engineers (ASCE)
T2 - Construction Research Congress 2022: Project Management and Delivery, Controls, and Design and Materials, CRC 2022
Y2 - 9 March 2022 through 12 March 2022
ER -