Best Value for Money definition

Best Value for Money means the optimum combination of whole life costs, quality and benefits to meet the customer’s requirement.

Best Value for Money. ’ means the optimisation of the return on investment in respect of an immovable asset in relation to functional, financial, economic and social return, wherever possible; 10

Best Value for Money. – the most cost effective means of meeting the need and takes account of whole life costs.

Examples of Best Value for Money in a sentence

• For the year April 2019 to March 2020, there are two options; the inclusive package offering excellent value for money or a pay as you go option Governor Services Package Best value for money and the most popular package.

• For the year April 2018 to March 2019, there are two options; the inclusive package offering excellent value for money or a pay as you go option Governor Services Package Best value for money and the most popular package.

• Best value for money The evaluation will be conducted on the basis of the below award criteria: Award criteria Maximum score Organisation of call-off orders Quality assurance routines Merits 30 points 30 points 40 points Total: 100 The assessment and scoring of the award criteria will be carried out according to the following scoring scale: The score for each criterion generates a weighted score.

• Best value for money was ensured (see Article 10 and Article 13).

More Definitions of Best Value for Money

Best Value for Money means the optimum combination of cost (whole life costs), quality and benefits (including social value) to meet the Council’s requirements.

Best Value for Money means the most advantageous balance between performance, price and quality;

Best Value for Money means that the evaluation is done according to the best quality/price ratio.

Best Value for Money means the optimum combination of cost, quality and benefits to meet CWAG’s requirements.

Best Value for Money means “most economically advantageous offer”.

Best Value for Money means in relation to all the Bids received with respect to a proposed Acquisition, the Compliant Bid offering the optimal value balance of efficiency, durability and performance balanced against the cost of the Good or Service concerned, having regard to the Town’s objectives in relation to the Acquisition, and taking into account (to the extent relevant) in relation to each Bid,

Best Value for Money means the responsive offer that is the best combination of technical specifications, quality and price; and - consistent with section 7.3 (Audit and Access), all financial reports shall be subject to audit by or on behalf of WHO, including examination of supporting documentation and relevant accounting entries in the Contractor's books. In order to facilitate financial reporting and audit, the Contractor shall keep systematic and accurate accounts and records in respect of the work. Unless otherwise specified in the Contract, WHO shall have no obligation to purchase any minimum quantities of goods or services from the Contractor, and WHO shall have no limitation on its right to obtain goods or services of the same kind, quality and quantity as described in the Contract, from any other sources at any time. Unless otherwise specified in the Contract, in the event that the Contract is a Long-Term Agreement (“LTA”), the Contractor shall offer the same prices and terms as those agreed with WHO under the Contract to other interested United Nations system agencies and to organizations eligible to purchase through WHO, it being understood that each such agency and organization will be responsible for independently entering into and administering its own contract with the Contractor. The Contractor shall take into account the additional quantities of services purchased by all United Nations system agencies and other organizations as aforesaid to further reduce the prices for WHO and such other agencies and organizations.