A method to determine minimum contract bids for incentive highway projects
Abstract An increasing number of state highway agencies (SHAs) are using Incentive/Disincentive (I/D) bidding for highway construction. The I/D bidding concept is designed to shorten the total contract time by allowing the contractor to obtain incentives for early completion and pay disincentives for late completion of a project. Contractors are then presented with the problem of determining a better strategy to develop their bid estimate, including construction cost, construction time, and I/D. This research offers a quantifying model to determine an optimum low bid to submit for both linear I/D and escalating I/D type projects. A functional relationship between the construction cost and time duration is developed from the Florida Department of Transportation (FDOT) projects. The equation is then combined with the I/D to determine the optimum low bid price and time. Finally, several projects completed by the FDOT will be utilized to illustrate the validity of this model.
MULTICRITERIA VERBAL ANALYSIS FOR CONSTRUCTION CONTRACTS
In this paper, aims to analyze the construction contracts and to determine their effectiveness by verbal methods. Contractors of international construction projects are often faced with complicated situations working in the conditions of uncertainty in construction. One of the potential risk factors is associated with the requirements of contract conditions. A simple quantitative method for evaluating the requirements defined in specifications of the contract is presented. One of the major aspects is project or contract management. Project developers need various models of managing large and complex projects. The suggested method for evaluating contract effectiveness may be widely applied at one of the stages of project management. A case study of practical use of verbal methods is presented.
Bentham's Equality-Sensitive Utilitarianism
Rosen argues that Bentham's utilitarian doctrine was sensitive to distributive concerns and would not countenance sacrifice of fundamental individual interests for aggregate gains in happiness in society. This essay seeks to extend and deepen Rosen's argument. It is argued that Bentham's equality-sensitive principle of utility is an expression of an individualist conception of human happiness which contrasts sharply with the orthodox utilitarian abstract conception. Evidence for this interpretation of the basic motivation of Bentham's doctrine is drawn from his view of the relationship between happiness and expectations, from various expressions of his ‘each to count for one’ formula, and from his reformulations of the principle of utility itself late in his career.