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A+B Bidding
1. A method of rewarding a contractor for
completing a project as quickly as possible. By
providing a cost for each working day, the
contract combines the cost to perform the
work (“A” component) with the cost of the
impact to the public (“B” component) to
provide the lowest cost to the public.
2. A cost-plus-time bidding procedure. The low
bidder is selected based on a combination of
the traditional contract unit price items-based
bid (A) and the time component proposed by
the bidder to complete the project or a critical
portion of the project (B). (WSOT 2015)
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AAA
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ABA
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ABA Model Procurement Code for State and Local Government (U.S. Law)
Developed by
the American Bar Association (ABA) and
adopted in 1979. A collection of statutory
principles and policies that provides guidance
to public policy managers who wish to
responsibly manage public procurement.
State and larger local governments have
individually codified the ABA MPC into
procurement law and policy to effectively
guide their procurement departments. The
code was updated in 2000 and contains
enhancements in the following areas:
electronic commerce, cooperative purchasing,
flexibility in purchasing methods, and
processes for delivery of infrastructure
facilities and services. Also called the Model
Procurement Code.
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ABA Model Procurement Ordinance for Local Governments (U.S. Law)
A code similar to the
ABA Model Procurement Code but intended
for use by small local jurisdictions.
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ABC Inventory Classification
The prioritization of
inventory based on the entity's business
approach, e.g., a factor such as cost,
importance, or lead time. "A" would be items
of high cost, importance, lead time, or other
aspect. "B" would designate a medium
prioritization, and "C" would designate a low
prioritization. A variation on the Pareto
Principle.
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ABL (Approved Brands List)
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Absolute Advantage
The ability to produce a
good or service at a lower absolute cost (the
minimum costs to remain in business) per
unit using a smaller number of inputs or a
more efficient process than another supplier
producing the same good or service. See also:
Comparative Advantage.
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Accept
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Acceptable Products List (APL)
A pre-approved
list of products, usually grouped by
manufacturer, that have proven to be in
conformance with developed specifications
and standards. The list may result from
performance testing of the product or from
field testing or laboratory analysis. See also:
Qualified Products List (QPL), Approved
Brands List (ABL).