Maintaining a Pricing Profile

The Pricing Profile Summary contains all the information currently recorded for a pricing profile. To access this component, locate the profile on the Pricing Overview and click the link in the Pricing Profile field on the profile row.

Information is grouped on six tabs located on the left side of the component. The component opens on the General tab, which allows you to view or change the following information:

• Pricing Profile

• Type

• Description

• Default

• Run Date

Click in a field and add, change, or delete information as required. 

To designate this pricing profile as the default profile for the pricing service, select Set as Default from the Actions menu on the component header.

To add a new pricing profile, select Add New from the Actions menu on the component header. For more information, see Adding a Pricing Profile.

When you are finished making changes, click the Save button to apply your changes to the system (including deleted information). The system displays a message to confirm that your changes were saved in the database.

Data Selection

Click the Data Selection tab to add or change the date information, improvement types, work types, or spec books you want included in the pricing profile.

You can add or change information in the following fields:

• Start Letting Date

• End Letting Date

• Number of Months

• Use Only

Improvement Types

Expand this section to view or maintain the improvement types included in the pricing profile.  You can enter multiple values as separate rows. To add an improvement type, select a value in the Improvement Type field. The system automatically adds another improvement type row, enabling you to enter another value. To delete an improvement type, click the Delete button on the improvement type row and click Save.

Work Types

Expand this section to view or maintain the work types included in the pricing profile.  You can enter multiple values as separate rows. To add a work type, select a value in the Work Type field. The system automatically adds another work type row, enabling you to enter another value. To delete a work type, click the Delete button on the work type row and click Save.

Spec Books

Expand this section to view or maintain the spec books included in the pricing profile.  You can enter multiple values as separate rows. To add a spec book, select a value in the Spec Book field. The system automatically adds another work type row, enabling you to enter another value. To delete a work type, click the Delete button on the work type row and click Save.

Basic Parameters

Click the Basic Parameters tab to add or change these parameters in your pricing profile.

• Source of Item Prices

• Number of Low Bidders per Proposal

• Market Area

• Date to Use for Item Prices

• Letting Date Adjustment

• Minimum Number of Bids Before Excluding

• Vendor Number

• Item Group Set

• Convert Opposite Units

• Date Rule When Date is not Available

Advanced Parameters

Click the Advanced Parameters tab to add or change variables, averages, regressions, or date parameters to your pricing profile.

Variables

Expand the Variables section to add or delete one or more of these variables in your profile:

• Highway Type

• Improvement Type

• Market Area

• Season

• Terrain

• Urban/Rural

• Work Type

Averages

Expand the Averages section to add or change these averages parameters in your profile:

• Minimum Number of Observations

• Percent of Date Range to Select

• Percent of Quantity Outliers to Exclude

• Percent of Price Outliers to Exclude

• Generate Averages

Regressions

Expand the Regressions section to add or change these regression parameters in your profile:

• Generate Regressions

• Minimum Number of Observations

• Exclude Models that are out of Range Compared to the Average

• Include Date Variable in Analysis

• Percent of Regression Model Outliers to Exclude

• Level of Improvement to Add

• Exclude Regression with Positive Quantity Coefficients

Date Parameters

Expand the Date Parameters section to add or change the following date parameters in the regression:

• Minimum Month Range of History Needed

• Minimum Number of Observations

• Maximum Inflation/Deflation Rate Allowed

Advanced Filters

Click the Advanced Filters tab to include proposal or item filters in your pricing profile.

To filter proposals in the profile by a field, expand the Proposals section and select the field in the Proposal Filter Clause field.

To filter items in the profile by a field, expand the Items section and select the field in the Item Filter Clause field. If you don't want to include obsolete items, make sure the Exclude Obsolete Items field is selected.

Source Data

Click the Source Data tab to view a list of all of the items included in the pricing profile calculations. Each item row displays the following information:

• Item

• Spec Bk

• Occurrences

• Description

You can exclude any item from the pricing profile calculation by selecting Exclude from Search Results from the Actions menu on the item row.

You can update the source data at any time by following these steps:

1. Clear the existing source data by selecting Clear Source Data from the Actions menu on the component header. The system takes you to the Execute Process component. Click the Execute button on the component header to run the process.

2. When the process has finished, return to the Pricing Profile Summary.

3. Select Get Source Data from the Actions menu on the component header. The system takes you to the Execute Process component. Click the Execute button on the component header to run the process.

Related topics:

Working with Pricing Profiles