A contractor has identifi bids She is reasonably confident s

A contractor has identifi bids. She is reasonably confident she coul the resources to undertake all of them. Her labor and equipment resources are limi should she do? The relevant data are summarized below. ed 8 major construction projects that are to be awarded based on sealed ld submit the low bid o n each project, but does not have ted. What Need crane? Profit ($1,000) hrs labor (1,000) Time for bid (p wk) Project # 80 110 100 90 70 12 13 80 90 60

Solution

Case 1:

According to my point of viewin this case the resources are limited for her to take multiple projects at a time. So its better to go for making some profit with minimizing the risk of loss. For example if she could bid for the 2nd option , as there is more time for biding and also less labor hours including NOcrane and more profit, It is more economical at the same time creates some profit to her.

Case 2:

If she is picking up multiple projcts at a time then instead of looking more into profits, she should concentrate on the min labour hours. In that case she can pick 6 7 3 8 2 1 4 5 andbid accordingly