Best Value Approach

Transparency requires an increase in trust from the buyer and vendor

In the BV approach, the WRR can be used as intended without a project plan

When the vendor makes a technical mistake, the vendor should pay for it

It is a good indication of expertise when a vendor makes the buyer think

Experts speak in complex terms due to their extensive knowledge

The contract is a useful way to guarantee a high level of performance

The BV approach is usable for projects looking to buy innovation

In the BVA we assume that experts should have a lower upfront cost than non-experts

The BV approach is only intended as a procurement process

The prequalification phase is optional in Best Value

Competitive dialogues and RFIs are encouraged in the Best Value Approach

In the selection phase the vendors are prioritized based on their proposed scope

The vendor is responsible to take the lead in the clarification phase

The detailed project schedule will mostly be used by the client

The Weekly Risk Report is first created in the clarification phase

Expert vendors mitigate risk by

The vendor’s submitted price for the project in the selection phase should include

How many selection criteria are there in BV PIPS?

If NO vendor shows differential in expertise by the end of the selection phase

Which of the following is true about standards?

In the BV Approach, the interview is the time to

The director’s report (DR)

Which of the following statements is TRUE about the interview process in PIPS?

The plan proposed by the BV vendor in the clarification phase should include

In the execution of a BV project

Which of the following is NOT included in the WRR?

Which of the following DOES NOT OCCUR in the selection phase, after the top BV vendor is prioritized?

Which of the following would be acceptable to be included in an expert’s risk plan?

Experts use …… to simplify things

The Project Capability Submittals should be

According to the industry structure diagram, a main difference between the Value Based and Price Based quadrants is

The vendor is financially responsible for

Expert vendors increase the amount of …… of the client.

The end scope of a project is created by

The BVA is price controlled due to

Who is responsible to utilize the client’s expertise?

Prequalification in Best Value is primarily used

Which of the following is TRUE about a Best Value RFP scope description?

For a vendor outside the competitive range to re-enter they must

When is the contract signed and awarded in BV PIPS

The cost for value added options should

In the clarification phase, if a vendor lacks information on the project they should

In the clarification phase the client should add their input

Which of the following is the responsibility of the client/buyer in the execution phase?

What entity maintains and distributes the WRR in the execution phase?

In the BV approach the selection committee will rate above a 5 if

Who needs to be able to understand the milestone schedule?

How many phases are there in BV PIPS?

In the BV approach the selection committee will rate below a 5 if

Which of the following is a project capability submittal document in the selection phase?