Detailed Answer
Best value evaluation:
**Trade-Off Analysis:**
- Technical merit vs. price
- May select higher-priced offeror
- Must justify premium paid
- Documents trade-off rationale
**Evaluation Factors (Typical):**
- Technical approach (often highest weight)
- Past performance
- Price/cost
- Management approach
- Staffing
- Small business participation
**Scoring Approaches:**
- Adjectival ratings (Outstanding, Good, Acceptable)
- Point scoring
- Color ratings (Blue, Green, Yellow, Red)
- Narrative assessment
**Key Principles:**
- Award to "best value" - not lowest price
- Non-price factors can outweigh price
- Must follow stated evaluation criteria
- Decision must be documented and defensible