What are the three Source Selection processes and techniques?

The concept of source selection in contracting refers to the methodologies and techniques employed to evaluate proposals received from bidders or offerors to determine the best value for the government or contracting entity. The three recognized processes in this context are the Best Value Continuum, Trade-Off Process, and Lowest Price Technically Acceptable.

The Best Value Continuum provides a framework for understanding how the government can evaluate offers based on various factors, understanding that the "best value" may not always be the lowest bid. It recognizes a spectrum where trade-offs can be made between price and other qualitative factors such as technical merit or past performance.

The Trade-Off Process allows for a more in-depth comparison of proposals. In this approach, evaluators can weigh the pros and cons of various submissions, balancing price against other criteria to determine which proposal offers the greatest overall benefit. This method is particularly valuable when the contracting agency wants to consider additional qualitative factors that might justify a higher price.

Lowest Price Technically Acceptable is a method where the focus is on ensuring that bidders meet the minimum technical requirements, with the contract awarded to the lowest bid among those that comply. This technique is suitable when the primary concern is obtaining the required products or services at the lowest possible price.

These three methods collectively provide