Term: Best Value

An evaluation methodology that purports to assign technical and financial scores independently of each other, and then to calculate some version of “price per point” to identify the bidder submitting the best-value proposal. In government contracting, often seems to devolve to low-price compliant. Difficult to bid, as the incremental point value of extra capability (and its associated cost) is often unclear or muted by the averaging effect inherent in group evaluations.