Which statement best describes a 'best value' approach in source selection?

• A. It seeks the lowest price alone
• B. It uses price and nonprice factors to determine overall value
• C. It considers only past performance
• D. It requires sealed bidding

Answer: (B)

Best value source selection means choosing the offer that provides the greatest overall value to the government by weighing price together with nonprice factors and allowing tradeoffs among them. This approach recognizes that cost is important, but other factors—such as technical merit, past performance, capability, risk, and the proposed approach—also influence value. It’s not about the lowest price alone, and it isn’t limited to past performance or to sealed bidding, which is linked to other procurement methods. By evaluating both cost and nonprice factors, and balancing them according to their importance, you determine the proposal that offers the best overall value.