Open AccessThe Economics Of Bidding In Project Management
Author(s) -
A. M. Alli,
David May
Publication year - 2011
Publication title -
journal of business and economics research
Language(s) - English
Resource type - Journals
eISSN - 2157-8893
pISSN - 1542-4448
DOI - 10.19030/jber.v7i10.2349
Subject(s) - bidding , duration (music) , linear programming , operations research , computer science , simplex algorithm , game theory , software , process (computing) , management science , process management , economics , operations management , microeconomics , business , engineering , programming language , art , literature , algorithm
This article develops strategic decision tables to be used by management in bidding based on optimal duration costs. In addition, a process is proposed to find the optimal economic duration of the project using crashing techniques, the simplex method of linear programming, and game theory. Standardized software packages for Decision Support Systems (DSS) are used in facilitating the calculations.