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Construction Item Pricing
For more profit and less risk
Author/s: Cattell, D
Published: 2012
ISBN: 9781919895697
Format: Soft cover
Pages: 184
Rights: World
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Construction Item Pricing
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Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.
Price & Ordering:
Qty Product Detail Recommended SA Price
2012 R285.00
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About this publication:
For more profit and less risk
The pricing of the constituent component items of a project has a substantial influence on the profitability of a project for a contractor.  Despite this, there has been relatively little research done on this subject since ‘unbalanced bidding’ (the manipulation of component item prices) was identified as a viable strategy 50 years ago. 

The science now confirms that there are considerable benefits for contractors of large-scale projects if they adopt a well-disciplined and well-informed approach to the pricing of their work – whether this is building construction, road or bridge-building, or aircraft or ship manufacture.  This book outlines a new approach, called CUP Theory (Construction Unit Pricing Theory), which is intended to lay a new foundation for a scientifically based approach to item pricing.  It shows that contractors could increase their profit by as much as 150% without much change to their risk. The author has included a CD containing the program by which pricing can be calculated, and has presented it so that it can be further worked on by those researching the field.

This book is intended to help establish a new foundation by which research into this field can be more openly discussed and debated, recognising that item pricing per se need not be unethical or exploitative, and that the industry – as a whole – has much to benefit from a more professional, more quantitatively sophisticated, and more openly discussed approach to this important subject.
 
Contents:
Chapter 1: Background 
Chapter 2: Other Unbalanced Bidding Models
Chapter 3: Modelling A Project's Revenue
Chapter 4: Modelling A Project's Risk
Chapter 5: Modern Portfolio Theory
Chapter 6: Cumulative Prospect Theory
Chapter 7: Software For Testing The Model
Chapter 8: Testing the Model
Chapter 9: Conclusion and Recommendations For Furthering The Work
 
CD with APPENDICES
A. Software
B. Hypothetical Project
C. Test Results
D. System Feedback
E. Item Prices
 
Of interest to:
Academics in the disciplines of construction economics and management, quantity surveying, project management, civil engineering, cost engineering, finance, financial economics, microeconomics, behavioural economics, game theory, applied mathematics, operations research and industrial engineering.
 
Practitioners in the disciplines of cost estimating, quantity surveying, project management, construction management and civil engineering.
Author/Editor details:
David Cattell is a software developer with a DPhil based on a thesis on component unit pricing. He has conducted research into this field for more than twenty-five years. His research has been published in leading academic journals in the USA and UK. He currently is a Senior Lecturer at Bond University in Australia.
 
 
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