LOST AND FOUND: IN SEARCH OF A UNIFORM APPROACH FOR SELECTING BEST VALUE

"Best value," the guiding principle underpinning government source selections, is defined as the outcome of an acquisition that, "in the Government's estimation, provides the greatest overall benefit" to the warfighter. The purpose of this Article is to examine the advantage...

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Bibliographic Details
Published in:Public contract law journal 2014-09, Vol.44 (1), p.1-30
Main Author: Bunting, Timothy
Format: Article
Language:English
Subjects:
Cost benefit analysis
Cost reduction
Decision making
Evaluation
Government contracts
Government purchasing
Methods
Proposals
Studies
Valuation
Online Access:Get full text
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Summary:"Best value," the guiding principle underpinning government source selections, is defined as the outcome of an acquisition that, "in the Government's estimation, provides the greatest overall benefit" to the warfighter. The purpose of this Article is to examine the advantages and disadvantages of the two major source selection approaches along the best value continuum and to propose a uniform framework for evaluating the benefits of each prior to selection. This Article asserts that agencies should not only consider the complexity of the requirement and the risk of failed performance when selecting an approach, but also the specific advantages and disadvantages inherent to each. Further, this Article proposes that agencies should consistently tailor these considerations to the unique requirements of each procurement. Finally, this Article explains that appreciating the critical differences intrinsic to each approach and their impact on the source selection may assist in the decision-making process and may lead to a more uniform approach for selecting best value.
ISSN:0033-3441
2162-8181