Value for money

The PSC is used as a quantitative benchmark against which to assess the bids. Proposals are assessed against the PSC to determine whether they offer value for money based on the quantitative analysis. However, this quantitative assessment is only one component of the evaluation process.

Every evaluation will consider a range of quantitative and qualitative factors. The PSC is the key management tool in the quantitative assessment of value for money during the procurement process and the evaluation and comparison of bids. However, a complete value for money assessment requires consideration of qualitative factors along with the quantitative assessment. Therefore, identifying the best outcome requires a flexible valuation process and therefore consideration of the qualitative factors associated with the bidders' proposals that have not been explicitly valued.

Further guidance on the value for money assessment is provided in Section 13.2.1.