Best Value definition

Best Value means the method by which a proposal/contract, if any, is awarded, in accordance with applicable laws, rules, and regulations. Best Value includes multiple parameters, including experience, references, quality of the Vendor's product(s)/service(s), and price, as detailed in Section 6.0 Evaluation and Award.

Best Value means the highest overall value to the City based on factors that include, but are not limited to, price, quality, design, and workmanship.

Best Value means the value placed upon quality, service, past performance and price.

Examples of Best Value in a sentence

• Best value determination must include price and must measure a responder's qualifications, experience, prior performance, and responses to technical and qualitative criteria.

• Best value duties apply across the public sector and, in the health service, best value is a formal duty on all Accountable Officers.

• Best value requires councils to demonstrate the sound use of the resources in their control, covering physical assets as well as financial resources and human resources.

• This third and final Business Case continues to adopt the H.M. Treasury Green Book 5-Case methodology and continues to demonstrate how its delivery is closely aligned to wider strategies and objectives; Best value for money; Achievable in commercial and practical terms; and affordable.

• Best value characteristics also include effective partnership working to deliver sustained improvements in outcomes.

More Definitions of Best Value

Best Value means the basis for awarding contracts for services to the offerer which optimizes quality, cost and efficiency, among responsive and responsible offerers. Such basis shall reflect, wherever possible, objective and quantifiable analysis. Such basis may also identify a quantitative factor for offerers that are small businesses or certified minority- or women-owned business enterprises as defined in subdivisions one, seven, fifteen and twenty of section three hundred ten of the executive law to be used in evaluation of offers for awarding of contracts for services.

Best Value means the method by which a contract, if any, is awarded, in accordance with applicable laws, rules, and regulations. Best Value includes multiple parameters, including experience, references, quality of Vendor’s product(s) and/or services, and price.

Best Value means the most advantageous balance of price, quality, service, performance, and other elements, as defined by the Board, achieved through methods in accordance with this section and determined by objective performance criteria that may include price, features, long-term functionality, life-cycle costs, overall sustainability, and required services.

Best Value means the optimal balance of performance and cost determined in accordance with a pre-defined evaluation plan. Best value may include a time horizon that reflects the overall life cycle of a given asset.

Best Value means a contract and procurement process to be followed by an authority that encourages and considers bids from locally headquartered companies and that considers use of the local workforce.

Best Value means the basis for awarding a contract for services to the bidder which best optimizes quality, cost and efficiency among Responsive and Responsible bidders. See State Finance Law § 163(1)(j).

Best Value means the expected outcome of an acquisition that, in the Government’s estimation, provides the greatest overall benefit in response to the requirement.