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- Best_value_procurement abstract "Best value procurement is a procurement system that looks at factors other than just price, such as quality and expertise, when selecting vendors or contractors.In a best value system, a contractor or vendor is selected through a process of researching the vendors or contractors prior to a detailed project plan is made. Typically values are assigned to factors such as price, past performance, schedule, and vision. These values are tabulated for each potential vendor or contractor and one will come out on top. This system is beneficial because it needs less decision making, prepares for the future, and minimizes risk. This system has been implemented by some governments, such as that of the United Kingdom. One of the most important aspects of best value procurement is looking at past performance. If a client is looking to build a five million dollar building, it is important to see if potential vendors have completed projects on such a scope. This will prevent clients from selecting vendors based on a low bid.Best value procurement is allowed for US federal government projects under the Federal Acquisition Regulation and 10 USC § 2304.".
- Best_value_procurement wikiPageID "39162150".
- Best_value_procurement wikiPageRevisionID "561707587".
- Best_value_procurement subject Category:Procurement.
- Best_value_procurement comment "Best value procurement is a procurement system that looks at factors other than just price, such as quality and expertise, when selecting vendors or contractors.In a best value system, a contractor or vendor is selected through a process of researching the vendors or contractors prior to a detailed project plan is made. Typically values are assigned to factors such as price, past performance, schedule, and vision.".
- Best_value_procurement label "Best value procurement".
- Best_value_procurement sameAs m.0vptywd.
- Best_value_procurement sameAs Q17017573.
- Best_value_procurement sameAs Q17017573.
- Best_value_procurement wasDerivedFrom Best_value_procurement?oldid=561707587.
- Best_value_procurement isPrimaryTopicOf Best_value_procurement.