TxDOT Research Library - Publication Details

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Title:

Bid Price Analysis Tool

Authors:

by Amit Kumar Singh [and three others]

Published:

2015

Austin, Texas

[Produced by researcher]

Type:

Online poster

1 PDF (81 x 92 cm)

Online Access:

https://library.ctr.utexas.edu/ctr-publications/wp...

Access Note:

644 KB

Summary

Before letting any project, engineers at Texas Department of Transportation [TxDOT] have to estimate unit bid prices for winning bidder. Our team at the Center for Transportation Research, UT Austin has created a tool which can be used for plan estimate development to achieve plan estimate within 5% of contractor's bid for each plan set. This tool automatically consolidates and analyzes previous bid tabs to estimate the best bid items prices. A separate version of this tool has been developed to detect the unusual projects where engineer's estimate of total project cost and winning bidder bid for total project cost deviates more than a given threshold. Additionally, this tool identifies crucial items within a project that are responsible for deviation in Engineer's estimate and winners bid. This tool has been built entirely using excel VBA and does not require any sophisticated programming packages or solver. This tool has been found to provide better and reliable price estimates on previous projects.

Publ. Place

Austin, Texas

Notes

Presented at the 2015 CTR Symposium, April 8, 2015, Austin, Texas.