Patent ID: 6647374
Filing Date: 2003-11-11
Classification: G06Q

Abstract:
A method for comparing bids utilizing a computer platform for the purpose of risk-adjustment received by a customer from a plurality of vendors for a particular technology contract, comprising the steps of utilizing said computer platform for processing information as follows:calculating an intrinsic rating P(k) for each of the vendors based upon the strength and performance of each of the vendors; calculating a component Q(x,k) for each vendor which quantifies the ability/suitability of a vendor to deliver on a â€œspecificâ€  component of said technology contract or a Request For Proposal (REP) based on the vendor's past performance; calculating a component Q(x) which is the summation of the Q(x,k) and P(k); determining an extrinsic two-way rating Vendor Rating (VR) of each of the plurality of vendors using the equation: Two-way VR=[Q(x, k)Ã—P(k)]/Q(x) receiving nominal bids from the plurality of vendors for a particular technology contract; adjusting for each vendor each of said nominal bids of each of the plurality of vendors utilizing each of the vendors two-way ratings to produce a risk-adjusted bid for each vendor; and comparing the risk-adjusted bids of each of said vendors.