lotus Posted September 16, 2022 Report Share Posted September 16, 2022 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? Link to comment Share on other sites More sharing options...
ji20874 Posted September 16, 2022 Report Share Posted September 16, 2022 lotus, Is there a problem with a best value determination being subjective? Link to comment Share on other sites More sharing options...
Neil Roberts Posted September 16, 2022 Report Share Posted September 16, 2022 Quality, price and delivery schedule come to mind as factors to consider. Procurements may differ from one another as to importance and risk. Link to comment Share on other sites More sharing options...
BrettK Posted September 16, 2022 Report Share Posted September 16, 2022 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! Link to comment Share on other sites More sharing options...
ji20874 Posted September 16, 2022 Report Share Posted September 16, 2022 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. Link to comment Share on other sites More sharing options...
GABE Posted September 21, 2022 Report Share Posted September 21, 2022 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. Link to comment Share on other sites More sharing options...
Vern Edwards Posted September 21, 2022 Report Share Posted September 21, 2022 On 9/16/2022 at 8:43 AM, lotus said: Has anyone come up with a good way to establish and measure value, so to know which value is best? According to von Winterfeldt and Edwards (no relation to me) in Decision Analysis and Behavioral Research (Cambridge University Press, 1986): Link to comment Share on other sites More sharing options...
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