Quality–Cost Trade Off (QCT) Based Bidding Strategy

Abstract

As the projects have become more versatile and complex, the procurement approaches also get diversified. In traditional price-dominated lowest bid (LB) procurement, contractor selection based on tender price is risky and may lead to failure of the project in terms of poor quality and delay in time. Quality–Cost trade off (QCT) based performance of contractor takes into consideration not only price but also quality. This paper presents a case study based on Geometric Graph Analysis (GGA) for evaluation of bids of prospective competitor as per client’s requirement.
Keywords: Tendering, Competitive Bidding Strategy, Pricing Strategy