The board shall determine if construction, improvements, and the purchase of equipment shall be undertaken, and the time of undertaking, and shall give due consideration to:

1. (a) The immediate needs of state agencies for construction and improvements.
2. (b) Obtaining construction, improvements, and equipment at the most reasonable price consistent with such needs.
3. (c) The need of construction, improvements, and equipment at state agencies as compared to the need for private construction, improvements, and equipment.
4. (d) Providing public works to relieve unemployment.