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Best Value Procurement in Construction and its Evolution in the 21st Century: A Systematic Review

journal contribution
posted on 2023-06-13, 06:18 authored by Muhammad Hasnain, Muhammad Jamaluddin Thaheem
This research attempts to facilitate client needs by describing the priority indicators that could help in decision making for awarding contracts. The indictors are recognized as key variables that impact the subsequent decisions of contracts award. The authors present a hierarchical review of relevant literature and integrate the factors that help in decision making using the Best Value Approach. This framework is comprised of eight dimensions of Best Value contributing factors – cost, risk, performance, quality control, health and safety, project control, current workload and delay claims. These eight dimensions aid the individual clients and organizations in selecting the most suitable contractor. The authors provide a brief understanding of Best Value contract strategy and the basis for the contract award in terms of business choice, managerial capacity and competency. This paper aims to provide a philosophy as to how Best Value decision making could be influenced by the ranking of contributing factors. This work also help in decision making by providing a hierarchical arrangement of the influential factors and the corresponding criteria for Best Value contract award.

History

Journal

Journal for the Advancement of Performance Information and Value

Volume

8

Pagination

1-21

ISSN

1941-191X

eISSN

2169-0464

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

Issue

1

Publisher

Kashiwagi Solution Model Inc.

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