best value principle

The best value principle involves choosing options that deliver the highest overall benefit relative to their cost. It’s about balancing quality, durability, and performance with affordability to get the most advantageous outcome. Instead of just selecting the cheapest or the most expensive option, decision-makers consider the long-term value—how well the product or service meets needs while providing good quality and reliability at a reasonable price. This approach ensures resources are used efficiently, maximizing benefits and minimizing unnecessary expenses for the best overall result.