Assessment and evaluation of contractor data against client goals using PERT approach

Abstract

A methodology for assessing and evaluating contractor data for the purpose of prequalification and bid evaluation is presented. The PERT approach is used to develop a linear model for the assessment of contractor data. The model incorporates a multiple ratings permitting the uncertainty in contractor data to be evaluated. An empirical study investigating the importance of different contractor criteria is described. A lexicographical ordering with aspiration levels and risk analysis with sensitivity methods are used to evaluate and select or rank-order contractors against the main client goals of time, cost, and quality. A literature review is reported regarding client goals and current evaluation strategies. The assumptions, advantages and disadvantages of this work as well as an example are also presented.