建筑专业毕业论文相关文献翻译建筑专业毕业论文相关文献翻译

收藏 分享

资源预览需要最新版本的Flash Player支持。
您尚未安装或版本过低,建议您

毕业论文外文文献翻译RISKANDPRICEINTHEBIDDINGPROCESSOFCONTRACTORSSAMUELLARYEA1ANDWILLHUGHES2【ABSTRACT】FORMALANDANALYTICALRISKMODELSPRESCRIBEHOWRISKSHOULDBEINCORPORATEDINTOCONSTRUCTIONBIDSHOWEVER,THEACTUALPROCESSOFHOWCONTRACTORSANDTHEIRCLIENTSNEGOTIATEANDAGREETOPRICEISCOMPLEXANDNOTCLEARLYARTICULATEDINTHELITERATUREWITHPARTICIPANTOBSERVATION,THEENTIRETENDERPROCESSWASSHADOWEDINTWOLEADINGUKCONSTRUCTIONFIRMSTHISWASCOMPAREDWITHPROPOSITIONSINANALYTICALMODELS,ANDSIGNIFICANTDIFFERENCESWEREFOUNDATOTALOF670HOFWORKOBSERVEDINBOTHFIRMSREVEALEDTHREESTAGESOFTHEBIDDINGPROCESSBIDDINGACTIVITIESWERECATEGORIZEDANDTHEIREXTENTESTIMATEDASDESKWORK32,CALCULATIONS19,MEETINGS14,DOCUMENTS13,OFFDAYS11,CONVERSATIONS7,CORRESPONDENCE3,ANDTRAVEL1RISKALLOWANCESOF1–2WEREPRICEDINSOMEBIDS,ANDTHREETIERSOFRISKAPPORTIONMENTINBIDSWEREIDENTIFIEDHOWEVER,PRICEDRISKSMAYBEEXCLUDEDFROMTHEFINALBIDTOENHANCECOMPETITIVENESSALTHOUGHRISKAPPORTIONMENTAFFECTSACONTRACTOR’SPRICINGSTRATEGY,OTHERCOMPLEXMICROECONOMICFACTORSALSOAFFECTPRICEINSTEADOFINCLUDINGPRICINGCONTINGENCIES,RISKWASPRICEDPRIMARILYTHROUGHCONTRACTUALRATHERTHANPRICEMECHANISMSTOREFLECTCOMMERCIALIMPERATIVESTHESEFINDINGSEXPLAINWHYSOMEASSUMPTIONSUNDERPINNINGANALYTICALMODELSMAYNOTBESUSTAINABLEINPRACTICEANDWHYWHATACTUALLYHAPPENSINPRACTICEISIMPORTANTFORTHOSEWHOSEEKTOMODELTHEPRICINGOFCONSTRUCTIONBIDS【KEYWORDS】BIDDING;CONTRACTORS;PARTICIPANTOBSERVATION;RISKAPPORTIONMENT;UNITEDKINGDOMINTRODUCTIONFORMALANDANALYTICALRISKMODELSTHATCONTRACTORSCANINCORPORATEINTOTHEBIDDINGPROCESSFORTHEPURPOSEOFALLOCATINGRISKCONTINGENCIESHAVEPROLIFERATEDINRECENTYEARSEG,AFUZZYSETMODELBYZENGETAL2007;AFUZZYLOGICBASEDARTIFICIALNEURALNETWORKMODELBYLIUANDLING12005;AFUZZYSETMODELBYPAEKETAL1993;AFUZZYSETMODELBYTAHETAL1993;ANDANINFLUENCEDIAGRAMMINGBASEDTECHNIQUEBYALBAHARANDCRANDALL1990HOWEVER,SEVERALEMPIRICALSTUDIESOFCONTRACTORSHAVESHOWNTHATTHEYARERARELYUSEDINPRACTICESEVENCONTRACTORSINTHEUNITEDKINGDOMSTUDIEDBYTAHETAL1994;30INTHEUNITEDKINGDOMSTUDIEDBYAKINTOYEANDMACLEOD1997;12INTHEUNITEDSTATESSTUDIEDBYSMITHANDBOHN1999;84INTHEUNITEDKINGDOMSTUDIEDBYAKINTOYEANDFITZGERALD2000;38INHONGKONGSTUDIEDBYWONGANDHUI2006;AND60INHONGKONGSTUDIEDBYCHANANDAU2007THISPAPERWILLDEMONSTRATETHATTHRELATIONSHIPBETWEENRISKANDPRICEINTHEPROCESSUSEDBYCONTRACTORSTOCALCULATETHEIRBIDSFORCONSTRUCTIONWORKISNOTARTICULATEDSUFFICIENTLYINTHELITERATUREALTHOUGHITISSUMMARIZEDINLARYEAANDHUGHES2008MOSTANALYTICALRISKMODELSPROPOSEDBYACADEMICRESEARCHERSHAVESOUGHTTOPRESCRIBEHOWRISKSHOULDBEINCLUDEDINABIDDINGPRICEHOWEVER,THEACTUALPROCESSOFHOWCONTRACTORSANDTHEIRCLIENTSNEGOTIATEANDAGREEONPRICEISCOMPLEXANDNOTCLEARLYDOCUMENTEDINMOSTOFTHELITERATUREASEXPLAINEDINACONSTRUCTIONCONTRACTSTEXTBOOKBYMURDOCHANDHUGHES2008,P128,MANYCONTRACTSFORCONSTRUCTIONWORKARECREATEDBYTHEPROCESSOFTENDER,WHICHOFTENINVOLVESSOMEFORMOFMARKETCOMPETITIONTHATCLIENTSUSETOOBTAINTHELOWESTPRICEFROMCONTRACTORSTHEFACTTHATTHEPRICINGOFWORKOCCURSINTHETENDERPROCESSMEANSTHATFIRST,ABASICUNDERSTANDINGOFTHEWHOLETENDERPROCESSUSEDBYCONTRACTORSTOARRIVEATABIDDINGPRICEISNEEDEDSECOND,ABASICUNDERSTANDINGOFHOWANDINWHATCIRCUMSTANCESPRICEISINFLUENCEDBYTHEAPPORTIONMENTOFRISKISNEEDEDHOWEVER,LITTLEEMPIRICALRESEARCHEXISTSABOUTTHEPROCESSUSEDBYCONTRACTORSTOPUTTOGETHERABIDDINGPRICE,ASSHOWNINAPPENDIXIWITHOUTAPRECISEUNDERSTANDINGOFHOWCONTRACTORSPRICEABIDANDACCOUNTFORRISKSINREALITY,ITWOULDBEDIFFICULTTOCONCEPTUALIZEANALYTICALMODELSFORAPPROACHINGRISKRESPONSEINTHEWAYTHATITNORMALLYHAPPENSINPRACTICERISKASSESSMENTSHOULDHAVEASERIOUSINFLUENCEONACONTRACTOR’SPRICINGSTRATEGY,BUTOTHERFACTORSALSOAFFECTPRICETHEPRICECLIENTSAREWILLINGTOPAYFORCONSTRUCTIONWORKDEPENDSNOTONLYONTHEIRAVAILABLERESOURCES,BUTALSOONWHATOTHERSELLERSIE,CONTRACTORSINTHEMARKETAREWILLINGTOOFFERFORTHESAMEPRODUCTSEETHEMICROECONOMICTHEORYOFTHEBEHAVIOROFINDIVIDUALCOMPETITIVEMARKETSINLIPSEY1979,P932ABIDDINGPRICEMAYBEDEPENDENTONTHEMARKETORCOMPETITIVEENVIRONMENTINWHICHITTAKESPLACEBROOK2004EXPLAINSTHATBIDDINGOFTENINVOLVESTWOPROCESSESFIRST,ESTIMATINGISTHESTAGEINWHICHTHEACTUALPROJECTCOSTSARECONSIDEREDTHISPROCESSMAYDEPENDONTHELEVELOFEXPERTISEINACONTRACTOR’SESTIMATINGDEPARTMENTSECOND,ADJUDICATIONISTHESTAGEINWHICHTHEDIRECTORSOFAFIRMTAKEACOMMERCIALVIEWOFTHEESTIMATEDCOSTINTHECONTEXTOFTHEFIRM’SPARTICULARCIRCUMSTANCES,MARKETCONDITIONS,ANDRISKMANAGEMENTWILLULTIMATELYTRYTOPITCHTHEBIDDINGPRICEBETWEENCOSTANDVALUETOWINTHEWORKSEETHEEXPLANATIONINMURDOCHANDHUGHES2008,PP138–139THEAPPROACHUSEDBYCONTRACTORSTOEVALUATERISKINTHEPROCESSOFPITCHINGTHEIRBIDDINGPRICETORESPONDTOTHESEFACTORSISNOTALWAYSCLEARLYEXPLAINEDINTHELITERATURE,ASSHOWNINAPPENDIXIHOWEVER,SEVERALANALYTICALAPPROACHESHAVEBEENPROPOSEDTOHELPCONTRACTORSDEALWITHRISKWHENBIDDINGWITHOUTASUFFICIENTUNDERSTANDINGOFHOWCONTRACTORSACTUALLYPRICEABIDANDCONSIDERRISKSINREALITY,ITWOULDBEHARDTOCONCEPTUALIZEANALYTICALMODELSTHATALIGNWITHWHATCONTRACTORSACTUALLYDOHOWEVER,ASSKITMOREANDWILCOCK1994,P142ACKNOWLEDGED,ITISHARDTOGETCONTRACTORSTOPARTICIPATEINSTUDIESOFTHISNATUREPRIMARILYBECAUSEOFTHECOMMERCIALLYSENSITIVEDATAINVOLVEDSEVERALSTUDIESOFCONTRACTORSHAVESHOWNTHATCONTRACTORSAREOFTENRELUCTANTTOFULLYACCOUNTFORTHECOSTOFRISKINTHEIRBIDDINGPRICETOAVOIDINFLATINGTHEIRPRICEWITHRISKALLOWANCESANDBECOMEUNCOMPETITIVESEE,FOREXAMPLE,ANINTERVIEWSTUDYOF12USCONTRACTORSBYSMITHANDBOHN1999ANDAQUESTIONNAIRESTUDYOF400USCONTRACTORSBYMOCHTARANDARDITI2001THUS,ITISNOTSURPRISINGTHATSEVERALSTUDIESHAVESHOWNTHATMOSTCONTRACTORSRARELYAPPROACHTHEINCORPORATIONOFRISKINTHEIRBIDPROPOSALSACCORDINGTOTHECONTINGENCYALLOCATIONTHEORYPRESCRIBEDBYMOSTANALYTICALMODELSITALSOIMPLIESTHATOTHERRISKRESPONSEMECHANISMSAREPROBABLYUSEDBYCONTRACTORSTHATCOULDBESHAREDANDUSEDTOGUIDEPRACTICALRISKANALYSISTECHNIQUESBACKGROUNDRISKISAPARTOFBUSINESSENDEAVORSBECAUSEOFUNCERTAINTYFLANAGANANDNORMAN1993;FISCHERANDJORDAN1996PORTFOLIOTHEORYANDCAPITALMARKETTHEORYSTIPULATETHATTOTALRISKCONSISTSOF3TWOTYPESOFRISKFISCHERANDJORDAN1996FIRST,SYSTEMATICRISK,WHICHCANNOTBECONTROLLED,EMANATESFROMEXTERNALFACTORSSUCHASACTSOFGOD,NATURALDISASTERS,MARKETRISK,INTERESTRATERISK,ANDPURCHASINGPOWERRISKSECOND,UNSYSTEMATICRISK,WHICHCANBECONTROLLED,RELATESTOORGANIZATIONSPECIFICFACTORSSUCHASBUSINESSRISKANDFINANCIALRISKTHESEFORMSOFRISKAREFUNDAMENTALTOTHECONSTRUCTIONINTERNALANDEXTERNALRISKANDTHEINSURANCEPUREANDSPECULATIVERISKINDUSTRIESSEE,FOREXAMPLE,ASTUDYONRISKALLOCATIONINTENDERSBYTAHETAL1993ANDTHETEXTBOOKABOUTINSURANCEBYDORFMAN2002ASSHOWNINTHEFINANCIALANALYSISTEXTBOOKBYFISCHERANDJORDAN1996,ONEWAYOFPRICINGAPRODUCTTOMEETEXPECTEDPROFITISTOQUANTIFYRISKANDBUILDAREQUIREDRATEOFRETURNTHATREPRESENTSARISKLESSRATEPLUSCOMPENSATIONFORINDIVIDUALRISKFACTORSCONNOLLY2006EXPLAINEDTHATRISKHASCOST,WHICHCANSOMETIMESBECATASTROPHICHOWEVER,ITISNOTEASYTOPREDICTORTOPRICERISK,ASSHOWNINASURVEYOFTHETOP400USCONTRACTORS,WHICHREVEALEDTHATPRICINGISACOMPLEXANDDIFFICULTTASKFORENTREPRENEURSMOCHTARANDARDITI2001ACCORDINGTOACONCEPTUALSTUDYBYMULHOLLANDANDCHRISTIAN1999INWHICHANANALYTICALAPPROACHWASPROPOSEDFORRISKASSESSMENTINCONSTRUCTIONSCHEDULES,CONSTRUCTIONPROJECTSAREINITIATEDINCOMPLEXANDDYNAMICENVIRONMENTS,RESULTINGINCIRCUMSTANCESOFHIGHUNCERTAINTYANDRISK,WHICHARECOMPOUNDEDBYDEMANDINGTIMECONSTRAINTSFLANAGANANDNORMAN1993EXPLAINEDTHATEVERYCONSTRUCTIONPROJECTISUNIQUEINITSFEATURESANDRISKHOWEVER,RISKISNOTUNIQUETOTHECONSTRUCTIONSECTOR,ASEXPLAINEDINTHETEXTBOOKABOUTSUBJECTIVEPROBABILITYBYWRIGHTANDAYTON1994INTHEDEFINITIVEGUIDANCEONECONOMICTHEORYANDTHECONSTRUCTIONINDUSTRY,THEWRITERSOBSERVEDTHATITISMOREOFTENTHEWAYASETOFFACTORSCOMBINETOAFFECTCONSTRUCTIONWORKTHATMAKESTHEINDUSTRYUNIQUEHILLEBRANDT1985INAHISTORICALOVERVIEWOFTHECONSTRUCTIONINDUSTRY,HUGHESANDHILLEBRANDT2003,P508–510SHOWEDTHATTHESEFACTORSRELATETOTHEECONOMIC,CONTRACTUAL,POLITICAL,ANDPHYSICALENVIRONMENTSINWHICHCONSTRUCTIONPROJECTSTAKEPLACE,ANDTHEYTENDTOAFFECTTHEWAYCONSTRUCTIONWORKISDESCRIBED,AWARDED,ANDDOCUMENTEDTHESEFACTORSINCLUDETHENECESSITYTOPRICETHEPRODUCTBEFOREPRODUCTION,COMPETITIVETENDERING,LOWFIXEDCAPITALREQUIREMENTS,PRELIMINARYEXPENSES,DELAYSTOCASHINFLOW,THETENDENCYTOOPERATEWITHTOOLITTLEWORKINGCAPITAL,SEASONALEFFECTS,PRICEFLUCTUATIONS,GOVERNMENTINTERVENTION,THEACTIVITYRELATEDTODEVELOPMENT,UNCERTAINGROUNDCONDITIONS,UNPREDICTABLEWEATHER,ANDNOPERFORMANCELIABILITYORLONGTERMGUARANTEESTHESEFACTORSARE4ALSOEXPLAINEDINCALVERTETAL1995ANDKWAKYE1997WHOALSOSHOWTHATCONSTRUCTIONPROJECTSAREMOSTLYCOMPLEX,HAVEALONGPRODUCTIONCYCLE,ANDINVOLVETHEINPUTOFMANYPARTICIPANTSINSOMEASPECTSOFCONSTRUCTIONMANAGEMENTEG,BALOIANDPRICE2003,P262,ANDAHMEDETAL2002,P4,RESEARCHERSHAVEARGUEDTHATCONTRACTORSAREPOORATMANAGINGRISK,SIMPLYBECAUSETHEEXPERIENTIALBASEDMECHANISMSTHEYAREREPORTEDTOUSEINAPPROACHINGRISKARENOTSYSTEMATICINNATUREHOWEVER,THISASSERTIONDOESNOTRINGTRUE,INTHELIGHTOFOTHERDESCRIPTIONSOFTHECONSTRUCTIONSECTORAHISTORICALOVERVIEWOFTHECONSTRUCTIONINDUSTRYBYHUGHESANDHILLEBRANDT2003,P511SHOWSTHATFROMTHEEARLYPARTOFTHNINETEENTHCENTURY,CONTRACTORSHAVERESPONDEDTORISKSINTHECONSTRUCTIONINDUSTRYBYUSINGVARIOUSMEANSMOSTCONTRACTORSHAVERESORTEDTOTHECONSTRUCTIONOFSPECULATIVEHOUSINGINTHENINETEENTHANDTWENTIETHCENTURIESTOSUSTAINTHELABORFORCEANDBUSINESSCOSTSTHROUGHTHEPEAKSANDTROUGHSOFCONTRACTEDWORKAGROWINGTENDENCYEXISTSFORCONTRACTORSTOUSETHEIRPOSITIVECASHFLOWTOINVESTINPUBLIC/PRIVATEPARTNERSHIPSPPPANDPRIVATEFINANCEINITIATIVEPFIPROJECTSINWHICHGOVERNMENTSENCOURAGETHEUSEOFPRIVATESECTORCAPITALTOPROCUREPUBLICSERVICESMORERECENTLY,SUCCESSFULCONTRACTORSAREDIVERSIFYINGINTOBUSINESSESWHOSECYCLESCOUNTERACTTHOSEOFTHECONSTRUCTIONINDUSTRYCONTRACTORSAREMITIGATINGRISKBYDECLININGWORKPERCEIVEDASTOORISKY,SUBCONTRACTINGLARGEPORTIONSOFTHEIRWORKTOOTHERS,ANDAPPORTIONINGRISKINWAGESTRUCTURESINESSENCE,THEYAREPASSINGRISKONTOOTHERSINTHESUPPLYCHAINTHESECONTRACTORSDOSEEMADEPTATMANAGINGRISKHOWEVER,BYITSVERYNATURE,RISKISDIFFICULTTOMITIGATEFULLYINALLBUSINESSSECTORSNOTJUSTINTHECONSTRUCTIONINDUSTRYCONSTRUCTIONPRACTITIONERSAREOFTENTRAINEDTOACCOUNTFORRISKINPROJECTS,PARTICULARLY,FOREXAMPLE,WITHTHECOMPILATIONOFARISKREGISTER,ASOUTLINEDBYTHEPROJECTMANAGEMENTINSTITUTEPMI2004,PP237–268THISDEMONSTRATESTHATTHEIMPORTANCEOFRISKANALYSISISUNDERSTOODBYPRACTITIONERSHOWEVER,ADETAILEDDESCRIPTIONOFHOWCONTRACTORSGETFROMTHEIRUNDERSTANDINGOFRISKTOSETTINGAPRICEISNOTTYPICALLYEXPLAINEDINTHELITERATURETHECONSTRUCTIONMANA
编号:201403252242390666    类型:共享资源    大小:71.00KB    格式:DOC    上传时间:2014-03-25
  
8
关 键 词:
建筑 专业 毕业论文 相关 相干 文献 翻译
  人人文库网所有资源均是用户自行上传分享,仅供网友学习交流,未经上传用户书面授权,请勿作他用。
关于本文
本文标题:建筑专业毕业论文相关文献翻译
链接地址:http://www.renrendoc.com/p-270666.html

当前资源信息

4.0
 
(2人评价)
浏览:374次
wodedtt上传于2014-03-25

官方联系方式

客服手机:17625900360   
2:不支持迅雷下载,请使用浏览器下载   
3:不支持QQ浏览器下载,请用其他浏览器   
4:下载后的文档和图纸-无水印   
5:文档经过压缩,下载后原文更清晰   

精品推荐

相关阅读

人人文库
关于我们 - 网站声明 - 网站地图 - 资源地图 - 友情链接 - 网站客服客服 - 联系我们

网站客服QQ:2846424093    人人文库上传用户QQ群:460291265   

[email protected] 2016-2018  renrendoc.com 网站版权所有   南天在线技术支持

经营许可证编号:苏ICP备12009002号-5