Definitions for "Best Value"
Providing the public with the best services possible to deliver high quality services that local people want and need and to constantly improve these services.
is used by Councils and RSLs to review the services they provide and improve service quality and cost-effectiveness. This must be done in consultation with people who use the services and the wider community.
A balance of access, choice, cost, and quality.
The expected outcome of an acquisition that, in the Government’s estimation, provides the greatest overall benefit in response to the requirement. ( FAR Part 2.101)
means the lowest overall cost to the University after taking into consideration costs, benefits, and savings.
A result intended in the acquisition of all goods and services. Price must be one of the evaluation criteria when acquiring good and services. Other evaluation criteria may include, but are not limited to environmental considerations, quality, and vendor performance.
A process used in competitive negotiated contracting to select the most advantageous offer by evaluating and comparing factors in addition to cost or price.
The solution that offers the most advantageous service/price combination.