Best Value Law and Legal Definition

According to 48 CFR 2.101 (Title 48, Federal Acquisition Regulations System; Chapter 1, Federal Acquisition Regulation; Subchapter A, General; Part 2, Definitions of Words and Terms; Subpart 2.1, Definitions), best value means “the expected outcome of an acquisition that, in the Government's estimation, provides the greatest overall benefit in response to the requirement.”