HOUSELINK Ranking System for evaluating the capacity of construction enterprises
1. What is the HOUSELINK Ranking system?
The HOUSELINK Ranking is an alphanumeric ranking system from A1 to E3 that provides project owners and all companies in the construction industry’s supply chain the ability to easily compare the performance of a construction tender package, apply for all contractors on HOUSELINK platform. The HOUSELINK Ranking estimates a contractor’s adjusted relative performance for an individual tender package.
For example, a B3 rating would represent more estimated execution risk than an A2 rating. As a result, a project owner would expect to receive greater benefits from an A2-rated contractor than a B3-rated contractor due to the higher relative risk.
2. HOUSELINK Ranking how does it rank?
The HOUSELINK Ranking of a construction contractor corresponds to a score in the competency evaluation system. The system is a quantitative method for measuring a contractor’s seven key criteria groups. Each criterion is evaluated and scored a corresponding score, resulting in a total score between 25 and 29 corresponding to the E3 level; 30-34 respectively E2; 35-39 respectively E1; 40-44 ~ D3; 45-49 ~ D2; 50-54 ~ D1; 55-59 ~ C3; 50-64 ~ C2; 65-69 ~ C1; 70-74 ~ B3; 75-79 ~ B2; 80 – 84 ~ B1; 85-89 ~ A3; 90-94 ~ A2 ; 95-100 ~ A1.
3. HOUSELINK Ranking’s benefits to the parties?
- For Project Owner:
Not every project owner can build their own rating system, even if it does, it is not easy to get full up-to-date data on the capacity of contractors. HOUSELINK Ranking will effectively support project owners who can add-in one more a channel so that they can easily: Search, evaluate, compare and choose suitable contractor for their projects. At the same time, saving time, costs and minimizing risks in choosing the wrong contractor.
- For contractors:
Currently, in Vietnam, there is almost no complete rating system, as well as support for capable contractors to easily build trust with project owners and industry partners. The HOUSELINK Ranking system not only helps ranked contractors reduce the time to prove their ability, limit unfair competition, but also helps contractors easily promote effective PR/Marketing and affirmation of company’s position in the industry.
- For other parties in the construction industry supply chain
HOUSELINK Ranking is a simple way to promote healthy, sustainable cooperation in the industry supply chain. Prevention of risks in the performance of work and payment; consolidate and maximize value in the supply chain, as well as contribute to the sustainable development of the construction industry.
4. How to be evaluated ?
- Step 1: Contractors provide information in the attached form here (Company_information)
- Step 2: Within 05 days from the date of receiving the application, HOUSELINK is responsible for checking the completeness and validity of the application. In case the dossier is missing or invalid, we will notify by email to the contractor applying for rating and issuing the certificate of capacity of the request to supplement the dossier or organize an inspection to verify the dossier if necessary.
- Step 3: After the dossier is completed, HOUSELINK conducts evaluation and rating and provides a contractor capacity evaluation report to the registered contractor within 3 working days.
The HOUSELINK Ranking is NOT a measure of contractor quality or suitability and is NOT intended as a substitute for individual project owner appraisal. Importantly, HOUSELINK’s Ranking system is NOT similar or comparable to ratings from other agencies such as government agencies or organizations, and is only an estimate of adjusted capacity according to the criteria of each individual contractor.
HOUSELINK’s appraisal process is very strict. At HOUSELINK, we are proud to bring cooperation opportunities to project owners and businesses in the construction industry supply chain with qualified contractors with the right qualifications.
HOUSELINK’s Ranking are for informational purposes only. Each rating is not representative or indicative of any particular contractor’s financial position or experience and is not a recommendation. These ratings are not intended, nor should they be construed, as predictions about the specific.