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Determining the Minimum Bid Price for Projects Involving Analysis from Multiple Locations


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    This paper presents a mathematical model and a solution methodology for determining the minimum fee, the best project duration time, and the optimal number of analysts for projects that involve travel to multiple sites or subcontracts with analysts from geographically dispersed locations. Computational experiments with the solution algorithm on twenty-seven randomly generated projects show that (a) the solution methodology efficiently provides an optimal solution, and (b) it provides decisionmakers with alternative next best plans through ex post sensitivity analysis.

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    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 8 (1993)
    Issue (Month): 2 ()
    Pages: 265-278

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    Handle: RePEc:jre:issued:v:8:n:2:1993:p:265-278

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    Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323

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    1. Price, WL & Martel, A & Lewis, KA, 1980. "A review of mathematical models in human resource planning," Omega, Elsevier, vol. 8(6), pages 639-645.
    2. Welling, Priscilla, 1977. "A goal programming model for human resource accounting in a CPA firm," Accounting, Organizations and Society, Elsevier, vol. 2(4), pages 307-316, October.
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