Risk Modelling with Bayesian Networks - Case Study: Construction of Tunnel under the Dead Vistula River in Gdansk
The process of decision-making in public procurement of construction projects during the preparation and implementation phases ought to be supported by risk identification, assessment, and management. In risk assessment one has to take into account factors that lead to risk events (background info), as well as the information about the risk symptoms (monitoring info). Typically once the risks have been assessed a decision-maker...
An important goal, implemented by EU countries under the Europe 2020 strategy, is sustainable development, which includes supporting economy that effectively uses natural and environmentally friendly resources. Solutions in this area are also promoted in tender proceedings in the area of public procurement. The LCA (Life Cycle Assessment) and LCC (Life Cycle Cost) analysis are indicated as the basis for decision-making by awarding...
The authors are concerned with a bidding problem. There are two companies (P1 and P2) bidding for a highway construction project. In order to be more competitive, P1 considers buying a new gravel pit near the construction site. The basic cost of the pit is known to both companies. However, there is also an additional, hidden, cost (C) known only to P1. P2 is uncertain whether the hidden cost is C = 0 or C = x. P1 plans to bid for...
seen 210 times