What is it about?
Currently, there is no objective approach for transportation agencies to elect projects to be procured through Lump Sum Contracting technique other than Expert Judgement. This paper describe the development of an objective approach to help transportation agencies select projects to be procured through Lump Sum.
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Why is it important?
It could help transportation agencies save significant amount of money and time by knowing which approach is more suitable based on project type and size.
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This page is a summary of: Unit Price or Lump Sum? A Stochastic Cost-Based Decision-Making Tool for Design-Bid-Build Projects, Transportation Research Record Journal of the Transportation Research Board, April 2018, SAGE Publications,
DOI: 10.1177/0361198118758052.
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