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You may recently have heard the term “Best Value Procurement” (BVP) or, simply, “Best Value”. This is increasingly being seen as an innovative method with which to invite tenders for IT projects, both for commercial organizations and those bound by European procurement legislation. This white paper discusses the practical aspects of BVP in terms of inviting tenders for IT projects. It clearly explains to those responsible for procurement and sourcing what the limitations of the “traditional” tendering process are, and describes the alternative that BVP presents. It also sheds light on the downside of BVP. Although BVP has many advantages, it is not a panacea.
Despite the popularity of BVP, it remains paramount to make a sound, balanced judgment between the various routes that could be explored in placing an IT project. This white paper aims to give sourcing executives a considered impression of BVP and how this method can be integrated into the existing arsenal of IT project tender procedures.