Competition And Cost Overruns In Procurement
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Competition And Cost Overruns In Procurement
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Author : Juan-José Ganuza
language : en
Publisher:
Release Date : 2005
Competition And Cost Overruns In Procurement written by Juan-José Ganuza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Most cases of cost overruns in public procurement are related to important changes in the initial project design. This paper deals with the problem of design speciffication in public procurement and provides a rationale for design misspeciffication. We propose a model in which the sponsor decides how much to invest in design speciffication and awards competitively the project to a contractor. After the project has been awarded the sponsor engages in bilateral renegotiation with the contractor, in order to accommodate changes in the initial project's design that new information makes desirable. When procurement takes place in the presence of horizontally differentiated contractors, the design's speciffication level is seen to affect the resulting degree of competition. The paper highlights this interaction between market competition and design speciffication and shows that the sponsor's optimal strategy, when facing an imperfectly competitive market supply, is to underinvest in design speciffication so as to make signifficant cost overruns likely. Since no such misspeciffication occurs in a perfectly competitive market, cost overruns are seen to arise as a consequence of lack of competition in the procurement market.
Competition And Cost Overruns In Procurement
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Author : Juan José Ganuza Fernández
language : en
Publisher:
Release Date : 2003
Competition And Cost Overruns In Procurement written by Juan José Ganuza Fernández and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Competition And Cost Overruns
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Author : Juan José Ganuza
language : en
Publisher:
Release Date : 2000
Competition And Cost Overruns written by Juan José Ganuza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Competition And Cost Overruns Optimal Misspecification Of Procurement Contracts
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Author : Juan José Ganuza Fernández
language : en
Publisher:
Release Date : 2000
Competition And Cost Overruns Optimal Misspecification Of Procurement Contracts written by Juan José Ganuza Fernández and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Optimal Cost Overruns
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Author : Fabian Herweg
language : en
Publisher:
Release Date : 2016
Optimal Cost Overruns written by Fabian Herweg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Auctions categories.
Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award procedure when the procurer cannot commit not to renegotiate. If cost differences are more pronounced for more complex designs, it is optimal to fix a simple design ex ante and to renegotiate to a more complex and costlier design ex post. Specifying a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi-dimensional auction, as the optimal scoring rule depends only on the price.
Optimal Cost Overruns
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Author : Fabian Herweg
language : en
Publisher:
Release Date : 2016
Optimal Cost Overruns written by Fabian Herweg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Auctions categories.
Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award procedure when the procurer cannot commit not to renegotiate. If cost differences are more pronounced for more complex designs, it is optimal to fix a simple design ex ante and to renegotiate to a more complex and costlier design ex post. Specifying a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi-dimensional auction, as the optimal scoring rule depends only on the price.
Global Developments In Public Infrastructure Procurement
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Author : Darrin Grimsey
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-11-24
Global Developments In Public Infrastructure Procurement written by Darrin Grimsey and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-24 with Business & Economics categories.
There is widespread acceptance of the importance of infrastructure, but less agreement about how it should be funded and procured. While most public infrastructure is still provided in-house or by traditional procurement methods – with well-researched strengths and weaknesses – the development of service concession arrangements has seen a greater emphasis on lifecycle costing, risk assessment and asset design as featured in a variety of public private partnership (PPP) delivery models. This book examines the various procurement approaches, and provides a framework for comparing their advantages and disadvantages. Drawing on international experience, it considers some of the best and worst examples of PPPs, and infrastructure projects generally, along with the lessons for improving infrastructure procurement processes.
Missile Procurement
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Author : U S Government Accountability Office (G
language : en
Publisher: BiblioGov
Release Date : 2013-06
Missile Procurement written by U S Government Accountability Office (G and has been published by BiblioGov this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06 with categories.
In response to a congressional request, GAO developed a historical case study of the Advanced Medium Range Air-to-Air Missile (AMRAAM) Program, focusing on its requirements determination, contracting strategy, testing, and program management to determine why cost overruns and schedule delays occurred. GAO found that underestimates of risk, schedule, and costs by the Air Force and contractor were the primary causes of the AMRAAM cost increases. Some of the factors that contributed to the underestimates or added to development time and costs included: (1) competition for program funding and pressure to justify the program over other programs; (2) contractor competition for the missile design and development contracts; and (3) frequent program manager turnover. GAO noted that the contractor: (1) did not meet all of the program's design and performance requirements due to technological, time, and cost limitations; (2) absorbed $255 million in cost overruns because the procurement was under a competitive fixed-price rather than a cost-reimbursement contract; and (3) stated that future price proposals would probably be more conservative and reflect the cost risks of system development. GAO is currently reviewing the adequacy and realism of AMRAAM flight tests prior to production decisions.
Economics Of Military Procurement
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Author : United States. Congress. Joint Economic Committee. Subcommittee on Economy in Government
language : en
Publisher:
Release Date : 1969
Economics Of Military Procurement written by United States. Congress. Joint Economic Committee. Subcommittee on Economy in Government and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with categories.
Reviews methods used by DOD to calculate contractor profit margins and use of competitive bidding procurement techniques. Includes discussion of C5-A cost over-runs.
Competition In Defense Procurement 1969
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Author : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly
language : en
Publisher:
Release Date : 1969
Competition In Defense Procurement 1969 written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Defense contracts categories.
Considers government proposals to increase competition for military contracts and to decrease cost overruns of contracts. Includes GAO report to Congress "Evaluation of Two Proposed Methods For Enhancing Competition in Weapons Systems Procurement, " 1969 (p. 33-95).