Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions

Jamshid Parvar; David J Lowe; David Lowe; Margaret Emsley

Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions

Jamshid Parvar, David J Lowe, David Lowe (Editor), Margaret Emsley (Editor)

Executive Education General

Research output: Chapter in Book/Conference proceeding › Conference contribution › peer-review

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Abstract

The decision whether to bid or not for a project is extremely important to contractors; besides the issues of resource allocation, the preparation of a bona fide tender commits the organisation to considerable expenditure, which is only recovered if the bid is successful. There is, therefore, a potential financial benefit to be realised through the adoption of an effective and systematic approach to the decision to bid process. Artificial neural network and regression techniques are used to produce a rational and optimal model for the bid/no-bid decision process. While the regression model is ultimately rejected, the selected back-propagation network, comprising 21 input nodes, 3 hidden layers and 4 output nodes is used to support a DSS for the decision to bid process. The results obtained demonstrate that the model functions effectively in predicting the decision process.

Original language	English
Title of host publication	Proceedings of the First International Symposium on Commercial Management. The University of Manchester
Editors	David Lowe, Margaret Emsley
Place of Publication	Manchester
Publisher	University of Manchester
Pages	122-135
Number of pages	14
ISBN (Print)	0-9547918-1-1
Publication status	Published - 7 Apr 2005
Event	The First International Symposium on Commercial Management - The University of Manchester Duration: 7 Apr 2005 → 7 Apr 2005

Conference

Conference	The First International Symposium on Commercial Management
City	The University of Manchester
Period	7/04/05 → 7/04/05

Keywords

Bidding, construction, decision support system, decision to bid, neural networks

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Parvar, J., Lowe, D. J., Lowe, D. (Ed.), & Emsley, M. (Ed.) (2005). Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions. In D. Lowe, & M. Emsley (Eds.), Proceedings of the First International Symposium on Commercial Management. The University of Manchester (pp. 122-135). University of Manchester.

Parvar, Jamshid ; Lowe, David J ; Lowe, David (Editor) et al. / Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions. Proceedings of the First International Symposium on Commercial Management. The University of Manchester. editor / David Lowe ; Margaret Emsley. Manchester : University of Manchester, 2005. pp. 122-135

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title = "Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions",

abstract = "The decision whether to bid or not for a project is extremely important to contractors; besides the issues of resource allocation, the preparation of a bona fide tender commits the organisation to considerable expenditure, which is only recovered if the bid is successful. There is, therefore, a potential financial benefit to be realised through the adoption of an effective and systematic approach to the decision to bid process. Artificial neural network and regression techniques are used to produce a rational and optimal model for the bid/no-bid decision process. While the regression model is ultimately rejected, the selected back-propagation network, comprising 21 input nodes, 3 hidden layers and 4 output nodes is used to support a DSS for the decision to bid process. The results obtained demonstrate that the model functions effectively in predicting the decision process.",

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Parvar, J, Lowe, DJ, Lowe, D (ed.) & Emsley, M (ed.) 2005, Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions. in D Lowe & M Emsley (eds), Proceedings of the First International Symposium on Commercial Management. The University of Manchester. University of Manchester, Manchester, pp. 122-135, The First International Symposium on Commercial Management, The University of Manchester, 7/04/05.

Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions. / Parvar, Jamshid; Lowe, David J; Lowe, David (Editor) et al.
Proceedings of the First International Symposium on Commercial Management. The University of Manchester. ed. / David Lowe; Margaret Emsley. Manchester: University of Manchester, 2005. p. 122-135.

Research output: Chapter in Book/Conference proceeding › Conference contribution › peer-review

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Parvar J, Lowe DJ, Lowe D, (ed.), Emsley M, (ed.). Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions. In Lowe D, Emsley M, editors, Proceedings of the First International Symposium on Commercial Management. The University of Manchester. Manchester: University of Manchester. 2005. p. 122-135

Development of a decision support system (DSS) for the contractors decision to bid: regression analysis and neural network solutions

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