In this paper,we developMHbased order acceptance strategies
and investigate their effects on the total expected profits through a
long-term operation in EPC projects under a competitive bidding
situation. We build a simulation model describing the relations
among the volume of MH for cost estimation, accepted orders,
revenues, and profits in EPC projects. Using our model, we
evaluate the effectiveness of order acceptance strategies from the
perspective of the total expected profit in EPC projects through a
long-term operation. We then show that the total expected profit
can be improved by the MH based order acceptance strategy
whichmaintains the appropriate balance ofMH for cost estimation
and project execution through a long-term operation in EPC
projects under the variability of accepted orders with competitive
bidding situations.