What is it about?
The article gives and insight about how a contractor being awarded a project on Lowest bid awards uses the concept of time value of money to reap out financial benefits
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Why is it important?
the information in this article has bee collected using RTI Act 2015 on 22 delayed projects their cost and cost on which they were awarded.
Perspectives
Indian construction especially public sector organisations and government department mostly depends on lowest financial bidder for award of contracts. At some point time of these projects, it has become a common scenario that there is a schedule delay resulting in extension of time. So it can be mentioned that modern con-tract handling procedures require an overhauling. The study presents a case-based approach, in which authors have studied different projects that have been awarded on basis of financial criterion. Ultimately conclusions have been drawn by comparing efficiency of contractor with progress, ratio of bid and project cost and other factors
Mr Shumank Deep
University of Newcastle
Read the Original
This page is a summary of: A Review of Contract Awards to Lowest Bidder in Indian Construction Projects via Case Based Approach, Open Journal of Business and Management, January 2017, Scientific Research Publishing, Inc,,
DOI: 10.4236/ojbm.2017.51015.
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