Cost_Formula-reward_average_cost_for_RFP.docx
DOCX document 15 KB Posted
- Attached to
- Workforce Development Plan
- Solicitation number
- 2025-RFP-CNH-301
- Issued by
- New Haven County, Connecticut
About this file
This file contains a cost formula reference document related to a Request for Proposals issued by the City of New Haven Department of Health in Connecticut for the development of a Five-Year Workforce Development Plan. The RFP seeks qualified proposers to create a comprehensive workforce development plan that aligns with the Public Health Accreditation Board (PHAB) Accreditation Standards and Measures applicable at the time of contract execution, whether Version 2022 or Version 2026, while building upon the existing 2022-2025 Workforce Development Plan. The City of New Haven reserves the right to waive informalities, reject any or all proposals, and select the proposal it deems most advantageous to the City's interests.
The document explains the Reward Low Cost scoring methodology, which is a cost evaluation formula used to allocate points to proposals based on their submitted costs. Under this approach, the lowest overall cost proposal receives the maximum available points, while all other proposals receive a proportional percentage of the total points based on the ratio of the lowest cost to their individual proposal cost. For example, a proposal costing twice as much as the lowest bid would receive 50 percent of the available points. This scoring method enables objective comparison of proposals on a cost basis, ensuring that price competitiveness is fairly evaluated across all submissions.
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A Closer Look at Cost Formulas The scoring methods Reward Average Cost and Reward Low Cost rely on cost formulas to track and calculate point values. Reward Low Cost, for example, uses this equation to determine how many points each individual submission should receive:
Lowest overall cost / Proposal's cost = X% of the possible points Expand the tabs to see Reward Low Cost in action.
Proposal A costs $100. How many points will it receive?
$100 (Lowest Proposal) / $100 (Proposal A) = 100% of 30 points
30 points awarded Proposal B costs $200. How many points will it receive?
$100 (Lowest Proposal) / $200 (Proposal B) = 50% of 30 points 15 points awarded Proposal C costs $500. How many points will it receive?
$100 (Lowest Proposal) / $500 (Proposal C) = 20% of 30 points 6 points awarded
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