Manuscript Number : IJSRCE2481610

A Novel Approach for Reducing Risk in Project Bidding Management

Authors(3) :-Thang Van Phan, Tuan Anh Nguyen, Hoa Van Vu Tran

Project bidding management is an important part of the engineering and building industries because it ensures that resources are used well, costs are kept low, and projects are finished on time. This process involves the solicitation of biddings from various contractors and vendors for a specific project and the subsequent evaluation and selection of the most suitable bidding. This article provides a comprehensive overview of project bidding management, encompassing key principles, methodologies, and best practices. It also highlights the significance of the integration of modern technologies and innovative approaches to enhance the efficiency and transparency of bidding processes. The paper also discusses challenges associated with project bidding and suggests potential solutions to mitigate risks and improve overall project outcomes. By delving into the intricacies of project bidding management, this research contributes valuable insights to practitioners, researchers, and stakeholders in the construction industry, fostering a deeper understanding of the critical factors that influence successful project bidding.

Authors and Affiliations

Thang Van Phan
DEOCA Group, Vietnam and DEOCA Research and Training Institute, University of Transport Ho Chi Minh City, Vietnam
Tuan Anh Nguyen
University of Transport Ho Chi Minh City, Vietnam and The SDCT Research Group, University of Transport Ho Chi Minh City, Vietnam
Hoa Van Vu Tran
The SDCT Research Group, University of Transport Ho Chi Minh City, Vietnam

Project Bidding, Risk Management, Project Management, Risk Analysis, BIM Technology

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Publication Details

Published in : Volume 8 | Issue 1 | January-February 2024
Date of Publication : 2024-02-29
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 143-160
Manuscript Number : IJSRCE2481610
Publisher : Technoscience Academy

ISSN : 2456-6667

Cite This Article :

Thang Van Phan, Tuan Anh Nguyen, Hoa Van Vu Tran, "A Novel Approach for Reducing Risk in Project Bidding Management", International Journal of Scientific Research in Civil Engineering (IJSRCE), ISSN : 2456-6667, Volume 8, Issue 1, pp.143-160, January-February.2024
URL : https://ijsrce.com/IJSRCE2481610

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