Application of Optimization to Select Contractors to Develop Strategies and Policies for the Development of Transport Infrastructure

Chia-Nan Wang, Tien-Muoi Le and Han-Khanh Nguyen
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Chia-Nan Wang: Department of Industrial Engineering and Management, National Kaohsiung University of Sciences and Technology, Chien Kung Campus, 415 Chien Kung Road, Kaohsiung 807, Taiwan
Tien-Muoi Le: Department of Industrial Engineering and Management, National Kaohsiung University of Sciences and Technology, Chien Kung Campus, 415 Chien Kung Road, Kaohsiung 807, Taiwan
Han-Khanh Nguyen: Faculty of Economics, Thu Dau Mot University, Number 6, Tran Van On Street, Phu Hoa Ward, Thu Dau Mot City 820000, Binh Duong Province, VietNam

Mathematics, 2019, vol. 7, issue 1, 1-19

Abstract: Many factors influence the efficiency and quality of transport works. In particular, consultants and construction contractors of these works play important roles, and critical factors directly affect the quality of traffic works. If the quality of consultancy and construction is good, the project will reduce the total investment; if the contractor is good, the completion time of the new project is guaranteed, thus reducing construction costs. The longer the construction time is, the higher the cost of the project. In this study, the authors used optimal algorithms to evaluate past, present, and future contractors’ technical, technological, and performance effectiveness. Research results show that bidders are divided into three groups: highly effective bidders, stable contractors, and inefficient groups. Research results for this subject will help the government, regulatory agencies, and investors select good contractors as the basis for developing strategies and policies for the development of transport infrastructure.

Keywords: transport infrastructure; develop strategies; optimal algorithms; business performance (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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