Government procurement is a market accounting for more than 15% of the gross world product. Irrespectively of the market size, government procurement receives little academic attention and research efforts in the basic functions of estimating and tendering are restricted to the construction industry. As a result, application-specific tools based on analytical models are unavailable to the general practitioner who relies mainly on experience and intuition for the bid pricing. An industry-independent software system based on the Monte Carlo simulation which integrates cost engineering with tendering theory was developed and its effectiveness was tested against real projects. Through the discussion on the various stages of the system development, a number of methods and models are presented and the highly managerial nature of the topic is revealed.
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