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

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Abstract

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.

Suggested Citation

  • Mohammad M. Amini & Gaylon Greer, 1993. "Determining the Minimum Bid Price for Projects Involving Analysis from Multiple Locations," Journal of Real Estate Research, American Real Estate Society, vol. 8(2), pages 265-278.
  • Handle: RePEc:jre:issued:v:8:n:2:1993:p:265-278
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    References listed on IDEAS

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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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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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