GovCon Acronym Decoder
Government contracting runs on shorthand. Search any acronym and get a plain-English definition, when you will run into it, whether you need one, and where it comes from.
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2 of 172 terms matching "Best Value"
Best Value Tradeoff
An evaluation method where the government can pay more for a better technical solution, past performance, or lower risk.
When you see it
In Section M, where the relative importance of factors versus price is stated.
Do you need it
Read the relative-importance language carefully. It tells you where to invest your effort.
Where it comes from
FAR Subpart 15.1.
Related terms
Best Value Tradeoff
An evaluation method where the government can pay more for a better technical solution, past performance, or lower risk.
When you see it
In Section M, where the relative importance of factors versus price is stated.
Do you need it
Read the relative-importance language carefully. It tells you where to invest your effort.
Where it comes from
FAR Subpart 15.1.
Related terms
Request for Proposal
A solicitation asking for a full proposal, usually including a technical approach, management plan, past performance, and price. Award is typically based on best value, not just low price.
When you see it
On larger or more complex requirements posted on SAM.gov.
Do you need it
You respond to it. Read Sections L and M first: they tell you what to submit and how you will be scored.
Where it comes from
Issued by the contracting office under FAR Part 15 (negotiated procurement).
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