Discover each of the markedly different formula-based approaches you can use to calculate overall bid scores that rank your bids and identify the Most Economically Advantageous Tender (MEAT).
With over 20 years’ experience in delivering best possible outcomes, our expert services team are on hand to help you select and prove through testing the best approach for your project.
Find out how to calculate:
- Value for Money (VfM)
- Weighted Value for Money (WVfM)
- Willingness to Pay (WTP)
- Relative (Percentage) Assessment
It’s important to recognise that different mathematical formulas combine the quality scores of bids and bid prices differently.
In certain scenarios, such as when scores and prices are close, it is possible that one formula may select a different winning bid than another formula, even when all other conditions in the competition are the same.
Choosing the right formula for any competition is therefore a key decision that needs to be tested, as it can be material to the outcome.
Selecting the right formula for your competition is a critical decision.
Through rigorous testing, you can ensure that the chosen approach aligns with your project’s objectives and helps you make informed decisions that lead to successful procurement outcomes.
Our experienced team is here to assist you in navigating this complex process and optimising your strategy for maximum success.
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