About: Suicide bidding

Facets (new session)
Description
Metadata
Settings
- Rule:
- Inverse Functional Properties:
- "Same As":

About: Suicide bidding Goto Sponge NotDistinct Permalink

An Entity of Type : yago:WikicatProcurementPractices, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)
QRcode icon

http://dbpedia.demo.openlinksw.com/describe/?url=http%3A%2F%2Fdbpedia.org%2Fresource%2FSuicide_bidding

Suicide bidding is a response to a tendering exercise in which a potential supplier, anxious to win business, submits a proposal to carry out the work for less than it will cost. These procurement processes are typically modelled as reverse sealed-bid auctions with the lowest bid winning. The motive for such bidding is to keep the company's skilled labour employed, even if the project only breaks even or makes a loss.

Attributes	Values
rdf:type	yago:Abstraction100002137 yago:Act100030358 yago:Activity100407535 yago:Event100029378 yago:Practice100410247 yago:PsychologicalFeature100023100 yago:YagoPermanentlyLocatedEntity disease yago:WikicatEthicallyDisputedBusinessPractices yago:WikicatProcurementPractices
rdfs:label	Suicide bidding (en)
rdfs:comment	Suicide bidding is a response to a tendering exercise in which a potential supplier, anxious to win business, submits a proposal to carry out the work for less than it will cost. These procurement processes are typically modelled as reverse sealed-bid auctions with the lowest bid winning. The motive for such bidding is to keep the company's skilled labour employed, even if the project only breaks even or makes a loss. (en)
dcterms:subject	Ethically disputed business practices Construction industry Insolvency Bidding strategy Procurement
Wikipage page ID	31941424 (xsd:integer)
Wikipage revision ID	1113753195 (xsd:integer)
Link from a Wikipage to another Wikipage	Ethically disputed business practices Contract Crossrail Civil Engineering Construction industry Connaught plc Construction bidding Housing association Insolvency Break-even Best value Government procurement Bidding strategy Procurement Chartered Institute of Building Contractual terms Great Recession Tendering Sealed-bid auction Loophole Loss leader Rok plc Reverse auction Skilled labour Late-2000s recession
sameAs	Suicide bidding Suicide bidding Suicide bidding Suicide bidding
dbp:wikiPageUsesTemplate	dbt:Auction dbt:Reflist dbt:Procurement_requests
has abstract	Suicide bidding is a response to a tendering exercise in which a potential supplier, anxious to win business, submits a proposal to carry out the work for less than it will cost. These procurement processes are typically modelled as reverse sealed-bid auctions with the lowest bid winning. The motive for such bidding is to keep the company's skilled labour employed, even if the project only breaks even or makes a loss. This can result in poor quality work, poor service and debates over loopholes in contract wording in attempts to charge clients extra, or even insolvency on the part of the contractor. The practice has particularly been noted in construction bidding. Around 2010, suicide bidding was widespread due to the economic crisis and strong competition. 2010 survey by the Chartered Institute of Building found that 82% of respondents believed that “suicide bidding” existed within the industry. It was considered to have contributed to the financial collapse of British firms Connaught plc and Rok plc in 2010. The Civil Engineering Contractors Association acknowledged that the practice had become "rife" in the desperate competition for work during the late-2000s recession, but blamed the public sector procurement process for focussing on the lowest price rather than best value. Some commissioning bodies, such as Crossrail, openly discourage the practice. In 2011, some housing associations began including specific terms in tenders to protect them from legal challenge in the event of refusing to award the contract according to the lowest tender. (en)
gold:hypernym	Response
dbp:wordnet_type	http://www.w3.org/2006/03/wn/wn20/instances/synset-musician-noun-1
prov:wasDerivedFrom	wikipedia-en:Suicide_bidding?oldid=1113753195&ns=0
page length (characters) of wiki page	3878 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Suicide_bidding
is Link from a Wikipage to another Wikipage of	Index of construction articles Auction Loss leader Suicide Bid
is Wikipage redirect of	Suicide Bid
is foaf:primaryTopic of	wikipedia-en:Suicide_bidding

Faceted Search & Find service v1.17_git139 as of Feb 29 2024

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 08.03.3330 as of Mar 19 2024, on Linux (x86_64-generic-linux-glibc212), Single-Server Edition (378 GB total memory, 48 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2024 OpenLink Software