Modeling of Contractor Selection Taking into Account Different Risk Level

Abstract

This paper presents contractors’ assessment and selection based on the multi-attribute methods in a competitive and risky environment. The model is based on a multi-attributes evaluation of contractors, the determination of their optimality criterion values calculated according to Hodges-Lehman rule. The proposed model could further be applied to construction operations. The attributes of contractor evaluation are selected by taking into consideration the interests and goals of the stakeholders as well as factors that influence the process of construction efficiency. The model is based on metric scores. A background and a description of the proposed model are provided and a few key findings from the data analyses are presented.