Analysis of Mark UP value decisions with a bidding strategy model to win projects in government auctions
DOI:
https://doi.org/10.59141/jist.v5i6.1120Keywords:
Mark Up, Expected Profit, Bid Strategy, Auction, LPSEAbstract
The purpose of this study is to create a bidding strategy to determine the optimum markup value and maximum expected profit to win a project auction. From the data selection results, 24 project tenders and 12 large qualification companies participated in the tender on the LPSE page of the Ministry of PUPR, which will be used as samples in this study. The bid strategy model used to calculate the optimum markup value and maximum expected profit are with 3 (three) bid strategy models, namely the Friedman Model, Gates Model and Ackoff & Sasieni Model, and to calculate the probability of winning using the statistical approach method of multi discrete distribution, normal multi-distribution and single normal distribution. From the results of testing models with optimal mark-ups for the 24 project tenders used in this study, the percentage for each bidding strategy model that has the potential to win the tender sequentially is the Friedman model by 80.56%, the Gates model by 61.11% and the Ackoff &; Sasieni model by 43.06%. So, it can be concluded that the Friedman model provides a fairly high chance of winning tenders in government projects within the Ministry of PUPR.
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Nyoman Rowin Sinaya, Parwadi Moengin, Bambang Endro Yuwono, Darmawan Pontan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International. that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
