When using best value procurement, how is the final selection typically made?

In best value procurement, the final selection process is focused on a comprehensive assessment of multiple criteria, rather than just the lowest price. A point-based scoring system allows evaluators to assign scores based on various factors such as quality, experience, technical capabilities, and price. This method not only ensures that cost is considered, but it also emphasizes the importance of value, which encompasses both quality and functionality.

Utilizing a point-based scoring system provides a structured and transparent approach to evaluation, allowing for a more nuanced comparison among bidders. Each bid is assessed not only on financial considerations but also on how well it meets the specific needs and goals of the procurement. This aligns with the principles of best value procurement, which aim to achieve the best overall outcome for the agency or organization involved.

The other methods mentioned, such as solely comparing pricing or relying on contractor familiarity, do not capture the broader aspects necessary for making a well-informed decision that aligns with best value principles.