|COMPARATIVE STUDY OF DIFFERENT CONTRACTOR SELECTION METHODS|
|K. KHAJA MASOOD FAKRULLA, CHANDRA MOULI|
|Cite This Article:|
COMPARATIVE STUDY OF DIFFERENT CONTRACTOR SELECTION METHODS, International Journal of Innovative Research in Technology(www.ijirt.org) ,ISSN: 2349-6002 ,Volume 5 ,Issue 8 ,Page(s):169-176 ,January 2019 ,Available :IJIRT147506_PAPER.pdf
|Contractors are very important in construction projects for the completion of project and selection of the best contractor for the project is a crucial decision for clients or owner. Selecting the right contractor for the right project is the most crucial challenge for any construction clients. Selection of the contractor to whom the client can trust and give the responsibility to execute the project has been primarily on the basis of bid price alone and the lowest price (tender) is usually described as being the key to win the contract, despite the fact that the tender sum is a major considerationbecauseofinstabilityandcompetitivenessoftheconstructionindustry, the selection of lowest bidder is one of the major reason for project failures. Recently there has been a trend away from a lowest price wins principle and subjective judgments to a multi criteria selection approach. In the present study A Comparative Study of Different Contractor Selection Methods has beendone.Multicriteriadecisionapproachconsidersbothpriceandnonpricerelatedcriteria’sfor the selection of the contractor. Based on the past research done by the professionals the criteria’s areselected.Theimportantcriteria’sarelistedoutbysurveyfortheselectionofthebestcontractor and by using those criteria comparative study of different contractor selection methods has been done. Here I have used Analytical hierarchy process (AHP), TOPSIS (Technique for Order PreferencebySimilaritytoanIdealSolution) and WeightedScoreMethod (WSM)fortheselection of a contractor among the bidders and those methods were compared. Itisobservedfromthecomparativestudythatthecontractorwhoishavingmoreweightage for the criteria which is having more weightage is selected as the best contractor and it is also observed that the contractor who is having more weightage for quality performance is selected as best.|
|Unique Paper ID: 147506|
Publication Volume & Issue: Volume 5, Issue 8
Page(s): 169 - 176
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