Under contracting by negotiation, what must be evaluated alongside price?

In contracting by negotiation, it is essential to evaluate not just the price but also cost and other relevant factors because this approach ensures a comprehensive assessment of the proposal's overall value. This evaluation allows contracting officers to consider various elements that could influence the effectiveness and efficiency of the contract, such as technical capabilities, delivery schedules, quality of products or services, and potential risks.

By analyzing cost, the contracting team can ascertain if it aligns with the scope and objectives of the project, ensuring that the resources allocated will provide the best possible outcome. Furthermore, evaluating additional relevant factors, such as the contractor's past performance, technical solutions, and compliance with requirements, supports informed decision-making and helps to mitigate risks associated with the chosen contractor.

This holistic evaluation process is crucial in obtaining the best overall value for the government or organization, which aligns with the principles of best value procurement.