An accelerated subcontracting and procuring model for construction projects

Considering the characteristics of highly specialized corporation in the construction industry, itʹs crucial to select appropriate subcontractors to implement specific subprojects. In this research, the overall subcontracting supply chain of a construction project is considered as a global procurement system and an optimal combination of subcontractors can be obtained within this system. Combining the quick response mechanism of information technology with portfolio theory in financial management, an integrated XML (eXtensible Markup Language) of Accelerated Subcontracting And Procuring (ASAP) model was proposed. The ultimate goal of this study is not only to develop a web-based decision support system for general contractors to accurately decide an appropriate trade-off between risk and profit for different combinations of subcontractors, but to take the subcontracting and procuring process into re-engineering through omnipresent Internet.