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.
A glossary of terms used widely in RFPs and in proposal process management, as well as those that apply to procurement overall. Limit search alphabetically by using the tag.
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.
The response period; the period during which the bid is being developed. Used primarily to distinguish from things that occur after contract award.
“Boilerplate” refers to two things, which share one characteristic—neither has been tailored for the opportunity at hand . . .
Company or partnership or joint venture or consortium submitting a bid. To be distinguished from “successful bidder,” which is the winner (a.k.a. contractor).
Shorthand for proposal. Refers to both the document submitted and the process to develop it.