Review on bid or no bid decision factors

Abstract

Recent economic indicators globally tend to suggest cautious behaviours amongst businesses. There is a wealth of resources on bid or no bid decision in literature. However, as things are changing, extant models need some revamping if they are to keep pace with current economic conditions that are challenging our industry. The purpose of this review paper is to explore extant frameworks for developing bid or no bid decision models and to point out possible variables that future research studies can focus on. Such contributions are important: current economic conditions are affecting the various sectors of the construction industry differently. When the key decision factors are elicited, future research can further analyse them to point out the factors that support specific elements of the construction business space e.g. small, institutional, major and mega building construction; civil and resource engineering construction, and; specialist projects [such as space and terra projects].