The Best Value Based Bidder Selection Research in Construction Bidding

With the development of construction market, biding is playing a significant role to one project. The lowest bid price method, as the internationally practiced architecture engineering bidding method, is widely adopted by the engineering projects in many countries and areas. But at meantime, there are many problems exposed. In order to solve the problem caused by the lowest bid price method, the performance information procurement system (PIPS) is used in this paper. PIPS harness the technological advancement of computer technology, information technology, and artificial intelligence. It is based on information measurement theory (IMT). This paper describes the PIPS operating procedures, and introduces the best value in the bidding, at the same time, it has been perfected to adapt to the China´s construction market. That is to say, a kind of method for evaluating and which suits to the development request for bid system in present stage---the best value method is proposed. The objective of this article is to use an information-based business process to procure contractors who deliver on time and on budget and meet quality expectations, to minimize the decision-making and subjective bias of the owner´s representatives.