Best value procurement in construction using artificial intelligence
Series: Journal of Construction Procurement ; 7(2), 42-59(18)Publication details: 2001Subject(s): Summary: There is a growing movement in the construction industry away from procurement through traditional low-bid methods toward performance based and best value procurement. Best value is achieved by contractors who optimise by price and performance. Until now there have been two major types of best value procurement: one-step and two-step. The major difficulty with both systems is finding an unbiased way to evaluate value versus performance. This study explores best value as identified by artificial intelligence (AI). The paper covers a case study of the use of a performance based procurement system called performance information procurement system (PBIS), to obtain best value on roof replacement and mechanical systems replacement projects in public schools and the state of Hawaii. [TAKEN FROM JOURNAL HEADNOTE]| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS64987 (Browse shelf(Opens below)) | 1 | Available | 116399-1001 |
There is a growing movement in the construction industry away from procurement through traditional low-bid methods toward performance based and best value procurement. Best value is achieved by contractors who optimise by price and performance. Until now there have been two major types of best value procurement: one-step and two-step. The major difficulty with both systems is finding an unbiased way to evaluate value versus performance. This study explores best value as identified by artificial intelligence (AI). The paper covers a case study of the use of a performance based procurement system called performance information procurement system (PBIS), to obtain best value on roof replacement and mechanical systems replacement projects in public schools and the state of Hawaii. [TAKEN FROM JOURNAL HEADNOTE]