The last financial crisis revealed anomalies in corporate ability to face adverse economic conditions and fast exchange of new developments. Relying mostly on accounting data for budgetary cost control, the Management found that the data, although fiscally correct and valid for strategic...

The paper aims at presenting a coherent algorithm allowing to evaluate tender bids in accordance with the principles of value-based management. The evaluation of tender results in many cases lacks rigorous methodology and often involves an inherent element of subjectivity. The mathematical...