Ranking BOT Promoter : A Best-Value Model Using Multi-Attribute Decision Theory

The best-value system is viewed as a balance between the consideration of price and qualifications. The low-bid ethod fails to serve the public interest because the lowest offer may not result in the lowest overall cost to the public. Best-value contracting strategy aims at using price and other key factors in the evaluation and selection process to enhance the long-term performance of projects. This paper discusses a new concept of best-value modeling that is unique and tailored to each project. Primary parameters that impact contractor selection are identified and analyzed based on which best-value model is designed. The paper provides practitioners with a tool for ranking contractors based on best-value and provides academics with selection parameters, a model to evaluate this best-value, and a methodology of quantifying the qualitative effect of subjective factors