Fuzzy decisions in bidding strategies

The process for assessing and evaluating contractors´ bidding strategies is dependent in most projects on subjective expertise judgement based on a certain number of criteria. A systematic approach based on fuzzy set theory and multicriteria modeling is proposed for selecting bidding strategies. A method is given to obtain a measure for ratings projects with respect to the criteria elements to determine effective bidding strategies. The importance and the level of contribution of each criterion can be estimated based on experience and judgement. Experience and judgement may easily be expressed in subjective measures rather than mathematical terms. Classical probability theory fails to incorporate subjective information. The subjective measures can be translated into mathematical values using fuzzy set theory. The proposed system is effective for a general bidding strategy which may involve many projects. Many criteria and many competitors