A more effective way of tendering: Insights into the principles of probabilistic cost estimation, to optimize tender phases of large complex infrastructural projects in a well-considered way

In the days when traditional RAW1 contracts were still popular for large infrastructural projects, the entire engineering of a new project was made by the clients themselves. After the realization of the design, this design was put on the market and was contracted. Contractors who wish to enroll for this work made a cost calculation on the basis...