Statistical comparison of performance based procurement and price based procurement

Parmar, Darshit, Sullivan, Kenneth, Egbu, Charles, Greenwood, David and Kashiwagi, Dean (2005) Statistical comparison of performance based procurement and price based procurement. In: Construction Research Congress 2005. American Society of Civil Engineers, pp. 899-908. ISBN 978-0-7844-0754-7

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Performance based procurement is a relatively new directive for contractor selection. Performance based procurement considers the value of the contractor's services in the award of the contract in addition to the submitted bid price. This study utilizes a statistical analysis comparing the abilities of the performance based and price based (lump sum low-bid) procurement processes to deliver project performance, to minimize the risks of the schedule, to minimize the risks of the budget, and in not meeting the client's expectations. The study also uses the results of statistical tests to identify the relative first costs of the processes and the client's management and control responsibilities. The results of the study show that a performance based procurement process delivers higher performance, minimizes subjective decision making, minimizes risk, and that cost and performance may have no direct relationship.

Item Type: Book Section
Uncontrolled Keywords: Performance based procurement, procurement, project success, risk
Subjects: H200 Civil Engineering
Department: Faculties > Engineering and Environment > Mechanical and Construction Engineering
Depositing User: Becky Skoyles
Date Deposited: 03 Feb 2015 10:58
Last Modified: 13 Oct 2019 00:22

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