A Study On Decision-Making In Bidding Partner Selection For Joint Venture Based On Group Decision Making

Project joint venture is a strategic entity, formed by two or more independentproject construction enterprises in order to carry out one or more engineering projects.In recent years, along with the demand increase and diversification in projectcontracting market in and outside China, contracting by joint venture has become acontracting model that coincide with the development of the project contractingmarket.In the tender contract projects, Joint Venture and a single contractor are quitedifferent in various areas, especially in decision-making. The decision-making ofbidding for joint venture is no longer an independent decision-making by a singledecision-maker but a process to achieve the best interests by the joint ventureparticipants with different backgrounds, different interests and different tasks.The article, firstly, analyzes the characteristics of the bidding by joint venture,sums up the key decision-making points and point out the necessity of the groupdecision-making; then, article focuses on solving the bidding partner selectiondecision-making, researches the process of joint venture structuring, the principle andmethods of partner selection. The article also builds up a synthesized evaluationsystem of selecting the partners in joint venture and leads some detailed analysis andin-depth research of the criteria of evaluation of bidding partners, analyzing andevaluating the criteria, conformating the criteria weight, and integrating the criteria'sevaluation. On this basis, respectively, uses two different ideas and algorithms toestablish the group decision-making models to solve the bidding partner selectiondecision-making. Finally, the article concludes the research results.