Procurement Method Flashcards
1
Q
How is procurement classified?
A
Based on competition
- competitive bid contracts
- negotiated contracts
-best value
2
Q
Give me some general facts about competitive bidding
A
- work awarded to lowest bidder
- time consuming process involving a bidding period as well as a bid evaluation, and review period prior to issuing notice to proceed with construction
- Project constructed with specific quality at lowest pric
- Formal procedure for public agencies
Contractor estimates cost of building project along with profit
- lump sum
- unit price
Loss is absorbed by the contractor, if actually cost exceeds limit
3
Q
What are the two types of competitive biding?
A
- Open Bid
- Closed form
4
Q
Give me some facts about negotiation in procurement methods
A
- pre-selected contractor
- common practice for private owners
- need for acceleration
- owner picks contractor on basis of:
- reputation and overall qualification to do the job
5
Q
Give me some information about best value in procurement methods
A
- used by the federal government and several states
- provides a uniform set of procurement regulations
- request for Proposal Staes:
- price
others: technical merit, qualification, quality performance - their evaluation criteria and weights
