SIMULATION MODEL FOR CRITICAL FACTORS IN BIDING PUBLIC PROJECT ACTIVITIES FROM ROMANIA

Mirela Violeta Mialtu

Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, 2015, vol. 9, issue 1, 33-46

Abstract: Improving tendering activity is a key concern for bidders, because the tendering activity underlies the competitiveness and the profitability of the contractors and it involves considerable risks. In this paper we proposed to look for links between the winning percentage, the degree of their admissibility and the number of received bids, in public tenders that take place in Romania. Accordingly, we identified an econometric model for modeling the phenomenon of public contracting, that may be applied for certain percentages of the estimated value, also depending on the number of received offers. The model can be implemented by the bidders to obtain practical results in predicting the value of the lowest offer and to decide if “to offer remain the best decision. The article evaluates one of the most important determinants of procurement process, the competitiveness, and brings in new elements of management in the bidding process by using of the econometric model.

Keywords: strategy; cost estimation; tender management (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:rom:mancon:v:9:y:2015:i:1:p:33-46

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