Authors: Swarupa Deshpande; Hiranmoy Roy; Tarun Dhingra; Sumeet Gupta
Addresses: Bureau Veritas India Pvt. Ltd., A/404,Crown CHS, Hiranandani Estate, Thane, 400607, India ' Department of Economics and International Business, School of Business (SoB), University of Petroleum and Energy Studies (UPES), Knowledge Acres, Kandoli, P.O. Box via Prem Nagar, Dehradun, India ' Department of General Management, School of Business (SoB), UPES, Knowledge Acres, Kandoli, P.O. Box via Prem Nagar, Dehradun, India ' Center for Infrastructure and Project Finance, Department of Accounting and Finance, School of Business (SoB), UPES, Knowledge Acres, Kandoli, P.O. Box via Prem Nagar, Dehradun, India
Abstract: Contract award framework involving multi-dimension parameters can assist in enhancing performance of oil and gas projects. This paper suggests quantitative, holistic contract award framework for public projects and suggests a measure for performance of oil and gas projects. Large numbers of parameters of contract award and project performance are reduced to significant factors using factor analysis where extraction of components is by PCA. Using these extracted factors and their component score, contract award index (CAI) and project performance index (PPI) are constructed by UNDP indexing method using geometric mean. Study found out eight significant factors and their 32 parameters along with component weight for contract award. A single point CAI is computed using these factors to rank bids. Ten factors and their 45 parameters along with component weight are found out to measure project performance. A single point PPI is computed using these factors to score project performance. Analysis of CAI and PPI revealed percentage variation of project performance due to contract award is 22.8%.
Keywords: project performance measure; sustainable procurement; contract award framework.
International Journal of Procurement Management, 2020 Vol.13 No.2, pp.143 - 179
Received: 01 Mar 2018
Accepted: 22 Jan 2019
Published online: 09 Apr 2020 *