Defense AT and L. Volume 44, Number 2
Abstract
We use the phrase best value fairly often, usually to describe the type of source-selection process or evaluation criteria we will use in a competitive acquisition. Under the Better Buying Power initiatives, we have emphasized using a more monetized and less subjective definition of best value. As a way to spur innovation, we also have emphasized communicating the value function to the offerors so they can bid more intelligently. Some reluctance and understandable concern arose about the unintended consequences of trying to define best value in monetary terms. In fact, this decision cant be avoided. I would like to explain why it is unavoidable, provide some examples of using this approach, and discuss how we can avoid those unintended consequences some of us worry about. Ill also touch on the proper use of Lowest Price, Technically Acceptable (LPTA)which is a form of monetized best value, but with a very restrictive definition and range of applicability.
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 01, 2015
- Accession Number
- AD1015910
Entities
People
- Benjamin Tyree
Organizations
- Defense Acquisition University