Fuzzy weighted average approach to ranking projects in contractor initial bidding

Abstract

This paper introduces a quantitative fuzzy weighted average method to assist contractors in deciding whether to bid on a project by simulating a multiple-criteria decision making process that integrates a group of several decision-makers. The triangular fuzzy-set model is implemented to define linguistic terms used to describe subjective judgments related to decision-makers' experience level, criteria weight assessment and selection criteria rating. This paper provides an illustrative case study of project selection to demonstrate its effectiveness. The proposed method applied here to construction projects can be implemented for any type of project in any geographic area.