A semiconductor manufacturer has decided to build a new satellite facility. This project will

eventually cost $$200$ million. It is their corporate policy to bid all work. Before a significant

amount of design can be developed, their board of directors must give approval for a maximum

anticipated cost. This creates a catch$-22$ situation, as it is difficult to develop a maximum cost until

significant design work is available. The owner lacks in$-$house capability to develop their own

estimates. At $50\%$ design completion, the owner solicits "bids" from four general contract