Dynamic Engineering Multi-criteria Decision Making Model Optimized by Entropy Weight for Evaluating Bid

Abstract

Bid evaluation was a pivotal step in the process of bidding. In order to prevent subjective or arbitrary behavior in bid evaluation process, a dynamic engineering Multi-Criteria Decision Making Model optimized by entropy weight was proposed. In this model, the dynamic weight of quotation was obtained through mutual game playing of bidders. Besides, objective entropy weight was employed to determine weight of other criteria except quotation. Dynamics, objectivity and scientificity were realized in this model. Moreover, this model was applied to evaluate bid of an assets packet project for an assets management corporation. Scientific and satisfying results were obtained. The results showed that subjectivity and arbitrariness were avoided successfully.