Simple prioritization

Simple prioritization

Decision matrix

A decision-support tool allowing decision makers to solve their problem by evaluating, rating, and comparing different alternatives on multiple criteria.

Multi-criteria decision-making (MCDM)

Methods incorporating multiple conflicting criteria into the management planning process. "Multi-Criteria Decision Making (MCDM) is the study of methods and procedures by which concerns about multiple conflicting criteria can be formally incorporated into the management planning process" according to the International Society on Multiple Criteria Decision Making.[1]

Analytical hierarchy process (AHP)

Decision-making approach structuring alternatives into a weighted multiple choice criteria hierarchy. "Analytical hierarchy process (AHP) is an approach to decision making that involves structuring multiple choice criteria into a hierarchy, assessing the relative importance of these criteria, comparing alternatives for each criterion, and determining an overall ranking of the alternatives." [2]

Bid responsiveness determination

To be determined responsive, a bid must be the lowest-priced technically acceptable (LPTA) bid. The bid has to be evaluated successfully against 3 criteria: (1) not rejected at opening time, (2) lowest priced, and (3) conformed to all essential requirements set forth in the invitation for bids (IFB).[3]

Bidder responsibility determination

To be determined responsible, a bidder must be evaluated successfully against 7 criteria: (1) financial resources, (2) performance schedule, (3) performance record, (4) integrity and ethics, (5) organization and skills, (6) equipment and facilities, and (7) specified qualifications to receive an award.[4]

References

  1. ↑ MCDM: http://www.mcdmsociety.org/facts.html
  2. ↑ DSS Resources: http://www.dssresources.com/glossary/dssglossary1999.html
  3. ↑ Bid Responsiveness Determination: http://rfptemplates.technologyevaluation.com/bid-responsiveness-determination.html
  4. ↑ Bidder Responsibility Determination: http://rfptemplates.technologyevaluation.com/bidder-responsibility-determination.html
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