best value framework

The best value framework is a decision-making approach used primarily in procurement and project management. It focuses on balancing cost, quality, and long-term benefits to select options that offer the greatest overall value rather than just the lowest price. By evaluating factors like durability, performance, and lifecycle costs alongside initial expenses, organizations aim to achieve optimal outcomes that meet their needs efficiently and sustainably. This method ensures resources are used wisely, emphasizing quality and performance to deliver better results over time rather than just short-term savings.