Construction Engineering Bidding Risk Analysis

Abstract

In the Bill of Quantities mode, the bidder must take risks of his tender offer. This paper researched on the uncertainty of construction projects costs, proposed Monte Carlo simulation method and procedure to simulate the construction projects costs on the basis of the construction projects costs conform to the characteristics of normal distribution, and also put forward a method to calculate risks of the tender offer in accordance with the established bidding strategy, which are helpful to the risk management and control of project contracting enterprises.