engleski

Application of a fuzzy linguistic approach in making a bid/no-bid decisions for construction projects

Bidding process is one of the most important stages related to construction projects. Making the right bid/no-bid decision is of great importance for a company doiung business in the ope market. A basis for a successful bidding strategy of company's products or services is a concentration of effort in the preparation of winning proposals that will assist in meeting company'sobjectives. There are various methods that can assist managers in making better bid/no-bid decision by concentrating on the preparation of proposals that will, if successful, facilitate meeting the company's objectives. Given the fact that criteria for making a bid/no-bid decision cannot always be quantitatively determined, the paper proposes a fuzzy linguistic method that enables making a decision on the basis of qualitive criteria and linguistic terms that are being evaluated by various experts. The method is suitable for interpretation in case of uncertain or approximate thinking that involves human intuition, taking into consideration evaluator's uncertainty in assessing each of the evaluation criteria, thus maintaining the multiplicity of meanings in order to provide an overall merit or attractiveness of a new business opportunity. Individuals express their assessments throughlinguistic variables, whereas perception and assessment of criteria is based upon intuition, knowledge and experience of evaluators.

Strategy; Bid/No-bid Decision; Bidding; Fuzzy Linguistic Method

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