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Assuming that lowest bidder wins at the lowest bid price, your firm’s cost esti...
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Assuming that lowest bidder wins at the lowest bid price, your firm’s cost estimates and bids, and bids of its competitors for the last five construction contracts are as below. (Show all calculations, 22%)
Contract | Your firm cost estimates (mil) | Your firm bids (mil) | Competitor A bids (mil) | Competitor B bids (mil) | Competitor C bids (mil) |
1 | 210 | 222 | 235 | 215 | 240 |
2 | 115 | 130 | 128 | 132 | 131 |
3 | 55 | 60 | 57 | 58 | 55 |
4 | 110 | 110 | 118 | 121 | 123 |
5 | 385 | 395 | 388 | 387 | 390 |
(a) What is the average percentage mark-up of your firm for the five bidding attempts? (5%)
(b) For the five bidding attempts, evaluate the bidding performance (i.e., bidding competitiveness and consistency in bidding) of your firm using the Bid Competitiveness Ratio (BCR) measure. (10%)
(c) Make two comments on the results obtained in (b). (3%)
(d) Calculate the market share of your firm and its competitors, comment on the results. (4%)