The Office of the Procurement Ombud (OPO) published a new research study that examines the important and often misunderstood concept of Best Value in procurement. Traditionally focused on either lowest price or the highest combined score of price and technical merit, Best Value has evolved to include broader government objectives such as reconciliation, diversity, and environmental sustainability by considering full life-cycle costs and non-financial objectives. At its core, Best Value is now about securing the right goods and services at a fair price while advancing public policy goals.
This report explores the origins of the concept of Best Value, its importance, and best practices in Canada and internationally. The report also provides recommendations to procurement practitioners and policy makers on how to effectively face the challenges linked to the implementation of Best Value in Canada.
As Canada is committed to an fair, open and transparent procurement process, Best Value considerations in procurement help guarantee sound stewardship of taxpayer funds and achieve other broader public benefits and strategic policy goals.
