What is a significant advantage of using best value procurement?

Using best value procurement primarily focuses on obtaining the best overall value for a project rather than simply the lowest price. By emphasizing quality, performance, and overall impact, this approach allows for a more thorough assessment of available options and encourages suppliers to demonstrate their value beyond just cost.

Choosing the best value procurement method typically leads to increased project quality, as it facilitates a comprehensive evaluation of bidders on various criteria, including quality of materials, adherence to timelines, and overall expertise. This holistic approach ensures that decisions are made based not only on financial considerations but also on the project’s long-term success and sustainability.

In contrast, focusing solely on lower initial costs may compromise quality, which can lead to higher long-term expenses through repairs, maintenance, or inefficiencies. While enhanced supplier relationships can be a benefit of a best value approach, the primary focus is on the quality and value derived from the project. Also, minimizing regulatory oversight does not align with the goals of ensuring project accountability and quality, which are central to best value procurement practices.