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RFP Cost Evaluation Methods.docx

  • Library: Purchissues
  • Year Created: 2024
  • File Type: DOCX
The document outlines various methods for evaluating costs in Requests for Proposals (RFPs). The four methods discussed are the Ratio Method, Best Value Method, Two-Step Method, and Reward Average Cost Method. The Ratio Method involves awarding points based on the cost relationship to the lowest proposal. The Best Value Method considers all factors except cost, with the proposal offering the lowest cost per point being awarded. The Two-Step Method rewards the lowest cost proposal meeting specific qualifications. The Reward Average Cost Method awards the average cost the maximum points and adjusts points for other proposals based on their cost relative to the average. Each method has its own criteria and considerations for scoring costs in RFP evaluations.
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