<div class="description">
<p>Proper procurement method selection is an integral part of project success. Better informed owners are able to more successfully select the project delivery systems that best suit their needs. This study utilizes utility theory to construct a framework to assist in the procurement decision making process. Through the use of expert weighting of important procurement criteria, real world projects were used to develop an overall threshold to which future owner's can compare their subsequent projects. This threshold, which marks the boundary between Design-Build and Design-Bid-Build, can be used to measure an owner's propensity to use either procurement method. It is fully tailorable to any owner, as owner-specific inputs are used. This ability for owners to objectify the largely subjective procurement decision making process allows owners to create a predictable, measurable trend, thereby improving their overall decision making ability.
</p>
<br>Subjects: Decision making; Game theory; Utility theory</div>
<div class="fn value">
Stauffer, Griffin K.</div>
Internet Archive identifier