dc.contributor.author |
Pearl, R G
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|
dc.contributor.author |
Akintoye, A
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|
dc.contributor.author |
Bowen, P A
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|
dc.contributor.author |
Hardcastle, C
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dc.date.accessioned |
2018-01-11T10:12:57Z |
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dc.date.available |
2018-01-11T10:12:57Z |
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dc.date.issued |
2003 |
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dc.identifier.citation |
Pearl, R., Akintoye, A., Bowen, P., & Hardcastle, C. (2003). Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa. Acta Structilia, 10(1&2), 5-34. Retrieved from http://journals.ufs.ac.za/index.php/as/article/view/1991 |
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dc.identifier.uri |
http://hdl.handle.net/11427/26802
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dc.description.abstract |
Although extensive research has been undertaken on the accuracy of quantity surveyors' tender price forecasts, very little of this research contains information relating to the factors affecting tender sum forecasting by quantity surveyors and contractors. The primary objective of this empirical study was to gain insight into the factors influencing both quantity surveyors' and contractors' tender price forecasts. This was achieved through an analysis of tender information relating to 278 projects for a fifteen-year period and collected from 30 quantity-surveying practices and MBATA tender records. The analysis of South African tender information reported in this article indicates an average forecast performance by quantity surveyors of 8.33% (std dev (standard deviation) = 11,183, CV (coefficient of variation) = 134,2%). The variability of contractors' tenders ranged from 0,37% to 46,53%, with a mean of 5,65% (std dev = 5,22, SE (standard error) = 0,313). Furthermore, there is no evidence to suggest that forecast performance is dependent on type of project, client, function of project, size of project, location of project and number of bidders. The contractor's results suggest that local authority projects are associated with high variability of their tender sum forecasts. The only factor, which shows significance for quantity surveyors, is the date of tender which may tend to point to the importance of market conditions and economic cycle in the tender sum forecast performance of South African quantity surveyors. |
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dc.language.iso |
eng |
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dc.source |
Acta Structilia |
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dc.source.uri |
http://journals.ufs.ac.za/index.php/as
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dc.subject.other |
Tender price forecasts |
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dc.subject.other |
tender information |
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dc.subject.other |
accuracy |
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dc.subject.other |
building industry |
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dc.title |
Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa |
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dc.type |
Journal Article |
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dc.date.updated |
2017-11-03T12:26:04Z |
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dc.publisher.institution |
University of Cape Town |
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dc.publisher.faculty |
Faculty of Engineering and the Built Environment |
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dc.publisher.department |
Department of Construction Economics and Management |
en_ZA |
uct.type.filetype |
Text |
|
uct.type.filetype |
Image |
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dc.identifier.apacitation |
Pearl, R. G., Akintoye, A., Bowen, P. A., & Hardcastle, C. (2003). Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa. <i>Acta Structilia</i>, http://hdl.handle.net/11427/26802 |
en_ZA |
dc.identifier.chicagocitation |
Pearl, R G, A Akintoye, P A Bowen, and C Hardcastle "Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa." <i>Acta Structilia</i> (2003) http://hdl.handle.net/11427/26802 |
en_ZA |
dc.identifier.vancouvercitation |
Pearl RG, Akintoye A, Bowen PA, Hardcastle C. Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa. Acta Structilia. 2003; http://hdl.handle.net/11427/26802. |
en_ZA |
dc.identifier.ris |
TY - Journal Article
AU - Pearl, R G
AU - Akintoye, A
AU - Bowen, P A
AU - Hardcastle, C
AB - Although extensive research has been undertaken on the accuracy of quantity surveyors' tender price forecasts, very little of this research contains information relating to the factors affecting tender sum forecasting by quantity surveyors and contractors. The primary objective of this empirical study was to gain insight into the factors influencing both quantity surveyors' and contractors' tender price forecasts. This was achieved through an analysis of tender information relating to 278 projects for a fifteen-year period and collected from 30 quantity-surveying practices and MBATA tender records. The analysis of South African tender information reported in this article indicates an average forecast performance by quantity surveyors of 8.33% (std dev (standard deviation) = 11,183, CV (coefficient of variation) = 134,2%). The variability of contractors' tenders ranged from 0,37% to 46,53%, with a mean of 5,65% (std dev = 5,22, SE (standard error) = 0,313). Furthermore, there is no evidence to suggest that forecast performance is dependent on type of project, client, function of project, size of project, location of project and number of bidders. The contractor's results suggest that local authority projects are associated with high variability of their tender sum forecasts. The only factor, which shows significance for quantity surveyors, is the date of tender which may tend to point to the importance of market conditions and economic cycle in the tender sum forecast performance of South African quantity surveyors.
DA - 2003
DB - OpenUCT
DP - University of Cape Town
J1 - Acta Structilia
LK - https://open.uct.ac.za
PB - University of Cape Town
PY - 2003
T1 - Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa
TI - Analysis of tender sum forecasting by quantity surveyors and contractors in South Africa
UR - http://hdl.handle.net/11427/26802
ER -
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en_ZA |