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Simulation Model For Critical Factors In Biding Public Project Activities From Romania

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  • Mirela Violeta MIALTU

Abstract

Improving tendering activity is a key concern for bidders, because the tendering activity underlies the competitiveness and the profitability of the contractors and it involves considerable risks. In this paper we proposed to look for links between the winning percentage, the degree of their admissibility and the number of received bids, in public tenders that take place in Romania. Accordingly, we identified an econometric model for modeling the phenomenon of public contracting, that may be applied for certain percentages of the estimated value, also depending on the number of received offers. The model can be implemented by the bidders to obtain practical results in predicting the value of the lowest offer and to decide if “to offer remain the best decision. The article evaluates one of the most important determinants of procurement process, the competitiveness, and brings in new elements of management in the bidding process by using of the econometric model.

Suggested Citation

  • Mirela Violeta MIALTU, 2015. "Simulation Model For Critical Factors In Biding Public Project Activities From Romania," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(1), pages 33-46, November.
    • Handle: RePEc:rom:mancon:v:9:y:2015:i:1:p:33-46
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    References listed on IDEAS

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    1. Akintola Akintoye, 2000. "Analysis of factors influencing project cost estimating practice," Construction Management and Economics, Taylor & Francis Journals, vol. 18(1), pages 77-89.
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