Research on Comprehensive Bid Evaluation of Construction Project Based on the Principal Component Analysis

The bid evaluation of construction project is a multivariate evaluation. Based on the principal component analysis which is included in multivariate statistical analysis, this paper establishes the multi-index comprehensive bid evaluation model of construction project, and proposes that how to calculate the evaluation index weight by introducing the variance contribution ratio, and that how to determine the number of principal components by making comprehensive consideration with an introduction of accumulated contribution ratio and factor load. Finally, an example is given to prove the convenience and feasibility of this bid evaluation method. This method has some characteristics: It overcomes deficiencies like large number of evaluation indexes, the overlap of the information that contained in evaluation indexes, and the determination of weight is artificial. The results of bid evaluation are objective and reasonable, which are suit for the evaluation of multi-index systems of large construction projects.