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Development of reusable bid evaluation models for the Portugese Electric Transmission Company

Listed author(s):
  • Carlos A. Bana e Costa
  • João C. Lourenço
  • Manuel P. Chagas
  • João C. Bana e Costa
Registered author(s):

    Bid evaluation is the process of selecting a contractor from a number of bidders. The decision analysis models currently in use at the Portuguese Electric Transmission Company (REN) to evaluate bids were developed through a decision conferencing process supported by the MACBETH multicriteria approach and software. This paper presents the various components of this interactive socio-technical process. Given the number of contracts awarded by REN each year, it was crucial that the models be reusable in similar calls for tenders; this required substantial care in structuring the criteria, with a focus on constructed scales, and building value function models based on qualitative pairwise comparison judgments of difference in attractiveness. Also of particular interest is the approach for weighing benefits against costs.

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    Paper provided by London School of Economics and Political Science, LSE Library in its series LSE Research Online Documents on Economics with number 22697.

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    Length: 32 pages
    Date of creation: 2007
    Handle: RePEc:ehl:lserod:22697
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    1. Jakrapong Pongpeng & John Liston, 2003. "TenSeM: a multicriteria and multidecision-makers' model in tender evaluation," Construction Management and Economics, Taylor & Francis Journals, vol. 21(1), pages 21-30.
    2. Dyer, JS & Lorber, HW, 1982. "The multiattribute evaluation of program-planning contractors," Omega, Elsevier, vol. 10(6), pages 673-678.
    3. Edwards, Ward & Barron, F. Hutton, 1994. "SMARTS and SMARTER: Improved Simple Methods for Multiattribute Utility Measurement," Organizational Behavior and Human Decision Processes, Elsevier, vol. 60(3), pages 306-325, December.
    4. Bana e Costa, Carlos A. & Nunes da Silva, Fernando & Vansnick, Jean-Claude, 2001. "Conflict dissolution in the public sector: A case-study," European Journal of Operational Research, Elsevier, vol. 130(2), pages 388-401, April.
    5. Bana e Costa, Carlos A. & Chagas, Manuel P., 2004. "A career choice problem: An example of how to use MACBETH to build a quantitative value model based on qualitative value judgments," European Journal of Operational Research, Elsevier, vol. 153(2), pages 323-331, March.
    6. Bana e Costa, Carlos A. & Oliveira, Carlos S. & Vieira, Victor, 2008. "Prioritization of bridges and tunnels in earthquake risk mitigation using multicriteria decision analysis: Application to Lisbon," Omega, Elsevier, vol. 36(3), pages 442-450, June.
    7. Gregory, Robin & Lichtenstein, Sarah & Slovic, Paul, 1993. "Valuing Environmental Resources: A Constructive Approach," Journal of Risk and Uncertainty, Springer, vol. 7(2), pages 177-197, October.
    8. Oliveira, Rui Carvalho & Lourenco, Joao Carlos, 2002. "A multicriteria model for assigning new orders to service suppliers," European Journal of Operational Research, Elsevier, vol. 139(2), pages 390-399, June.
    9. Zedan Hatush & Martin Skitmore, 1997. "Criteria for contractor selection," Construction Management and Economics, Taylor & Francis Journals, vol. 15(1), pages 19-38.
    10. Bana e Costa, Carlos A. & Corrêa, Émerson C. & De Corte, Jean-Marie & Vansnick, Jean-Claude, 2002. "Facilitating bid evaluation in public call for tenders: a socio-technical approach," Omega, Elsevier, vol. 30(3), pages 227-242, June.
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