Anyone can tell me the difference between
Source Selection Criteria AND Weighted criteria or Weighted System
Mon, 03/23/2015 - 03:41
Source selection criteria will be use to score seller proposals as part of the procurement process. This selection criteria could be subjective or objective. As part of procurement documents this is usually specified.
So some of the examples of source selection criteria would include technical capability of the seller, past performance of sellers, references and intellectual property rights, life cycle cost etc.
Usually there are lot of qualitative things when evaluating the sellers. There is a need to minimize effect of personal judgement or prejudice in seller selection. So this method is used for qualifying qualitative data which involves assigning a numerical weight to each of the evaluation criteria. Once you put the numbers, you can rate the prospective sellers on each criteria. Next you will have to assign some weights based on what is important to you. Say if past performance is of most importance then you give heigher weight. Cost if not very important you can assign lower weight. Finally multiplying the weight by the rating and totaling the resultant products to compute an overall score.
To understand weighting system in detail you can refer to this link http://terms.ameagle.com/2011/01/david.html
Tue, 03/24/2015 - 00:05
thanks admin, Really appreciate
Tue, 03/24/2015 - 00:07
In other words,
can we take the source selectio criteria into the wights system
like you said source seleciton criteria can be experience, etc.
I guess you can put weight on the experience
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