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FAR 15.101 describes how agencies can use different source selection approaches (or their combinations) to obtain best value. FAR 15.101-1 then describes the tradeoff process and 15.101-2 describes LPTA. The DoD Source Selection Procedures (which I personally find very confusing) describe VATEP (which I also find very confusing). My question is: Are there any other named/identified source selection procedures? (not including hybrids of ones already mentioned). Someone at work mentioned Highest Technical Rating at a Fair and Reasonable Price? Is that a viable approach where I work (Army)?
VATEP is a new method of acquisition that the DoD announced in April 2016. VATEP, which stands for Value Adjusted Total Evaluated Price, is a variant on best value procurements, and seeks to quantify technical superiority in dollar terms when there is a cost/technical tradeoff. It should, in theory, make it easier for the contractor to understand how much it will be rewarded for offering a technically superior proposal. It should also make it easier for the Government to evaluate such proposals. Read the full article at Petrillo & Powell's Patterns of Procurement to learn more about the ad