Lowest Cost:
Contract awarded to lowest bidder; cost only factor considered
- Doesn’t take into account costs beyond those listed in the bid (cost of replacing low quality parts, redoing work, lost time when goods don’t perform or service isn’t delivered as promised)
- Bidder must meet minimum technical requirements
- You must get an exception approved to use Lowest Cost at UC
Cost per Quality Point:
Contracts awarded to bidder who meets or exceeds the minimum technical and quality criteria and offers the lowest cost per quality point
- Technical criteria are scored and then averaged for a combined quality score; cost is then divided by quality score to determine cost per quality point
- Replaced by Best Value
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