A multicriteria risk-based dss for bidding using mixed integer programming

Description

This work presents a Decision Support System to provide help in bidding processes. This phase of the project is characterised by a high level of uncertainty and it involves a huge expense in the preparation of the proposal and important mobilization of resources. In industrial practice, bids are usually evaluated on the basis of multiple criteria; this algorithm evaluates candidates according to different criteria configurations. A risk-based approach has been incorporated in the procedure in order to minimise an objective function that involves the mitigation actions of risks. Mitigation actions can own a discrete or continuous nature.

Abstract

FAC Control Applications of Optimisation, Visegnid, Hungary, 2003

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