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Development of reusable bid evaluation models for the Portugese Electric Transmission Company

Bana e Costa, Carlos A., Lourenço, João C., Chagas, Manuel P. and Bana e Costa, João C. (2007) Development of reusable bid evaluation models for the Portugese Electric Transmission Company. Operational Research working papers, LSEOR 07.98. Operational Research Group, Department of Management, London School of Economics and Political Science, London, UK.

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Abstract

Bid evaluation is the process of selecting a contractor from a number of bidders. The decision analysis models currently in use at the Portuguese Electric Transmission Company (REN) to evaluate bids were developed through a decision conferencing process supported by the MACBETH multicriteria approach and software. This paper presents the various components of this interactive socio-technical process. Given the number of contracts awarded by REN each year, it was crucial that the models be reusable in similar calls for tenders; this required substantial care in structuring the criteria, with a focus on constructed scales, and building value function models based on qualitative pairwise comparison judgments of difference in attractiveness. Also of particular interest is the approach for weighing benefits against costs.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/collections/operationalResear...
Additional Information: © 2007 The London School of Economics and Political Science
Library of Congress subject classification: H Social Sciences > HF Commerce
H Social Sciences > HG Finance
H Social Sciences > HB Economic Theory
Sets: Research centres and groups > Management Science Group
Departments > Management
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: LSEOR 07.98
Date Deposited: 05 Mar 2009 15:50
URL: http://eprints.lse.ac.uk/22697/

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