The factors influencing bid mark-up decisions of large- and medium-size contractors in Singapore

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The factors influencing bid mark-up decisions of large- and medium-size contractors in Singapore

Author Info

Mohammed Fadhil Dulaimi
Hon Guo Shan

Abstract

The construction industry in Singapore is dominated by a competitive business environment that is being driven by a lowest cost mentality. The pressure on contractors' profit margins has further increased after a prolonged recession in this sector, which has seen construction demand and output shrinking significantly. This paper examines the factors that contractors perceive to be important when they are considering the size of their bid mark-up. The research hypothesis is that contractor size would have a significant bearing on the factors that would influence the bid mark-up decision. Forty factors were identified and a survey was conducted. The results showed that contractor size has a significant impact on their attitude towards bid mark-up decision-making. The analysis also showed that when deciding the size of a bid mark-up large contractors tend to be more concerned with the nature of the construction work while medium-size contractors are more concerned about the state of their own companies finance.

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Article provided by Taylor and Francis Journals in its journal Construction Management & Economics.

Volume (Year): 20 (2002)
Issue (Month): 7 (October)
Pages: 601-610
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Handle: RePEc:taf:conmgt:v:20:y:2002:i:7:p:601-610

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Akintola Akintoye, 2000. "Analysis of factors influencing project cost estimating practice," Construction Management & Economics, Taylor and Francis Journals, vol. 18(1), pages 77-89, January. [Downloadable!] (restricted)
Derek Drew, Martin Skitmore, 1997. "The effect of contract type and size on competitiveness in bidding," Construction Management & Economics, Taylor and Francis Journals, vol. 15(5), pages 469-489, September. [Downloadable!] (restricted)
Heng Li, Peter E.D. Love, 1999. "Combining rule-based expert systems and artificial neural networks for mark-up estimation," Construction Management & Economics, Taylor and Francis Journals, vol. 17(2), pages 169-176, March. [Downloadable!] (restricted)

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Joe Wong & Eddie Hui, 2006. "Construction project risks: further considerations for constructors' pricing in Hong Kong," Construction Management & Economics, Taylor and Francis Journals, vol. 24(4), pages 425-438, April. [Downloadable!] (restricted)

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