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Value is often defined as Quality divided by Cost.

More nuanced, Value = Benefits (Perceived Quality X Perceived Service) / Risks (Cost X Time)

Still has subjective components but comparable...and math!

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A best value decision can be wholly subjective, with no math whatsoever.  It need not be quantified or dollarized.  Or, it can be anywhere else on a continuum towards wholly objective.  It depends on how the solicitation is structured.

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On 9/16/2022 at 11:43 AM, lotus said:

Most procurements use an evaluation that relies on a best value determination.  Value seems unduly subjective.  Has anyone come up with a good way to establish and measure value, so to know which value is best?

Depends entirely on the requirement.  That’s the beauty of being a Contracting Officer. A CO has the sole discretion of determining Best Value.

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