Dictionary of Procurement Terms

A mathematical calculation that takes into account the varying degrees of importance of the numbers in a data set.

A methodology used to evaluate a proposal based on subjective criteria, each of which is assigned a point value.

A methodology used to evaluate a bid/proposal based on subjective criteria, each of which is assigned a point value. Evaluators may place different levels of importance on various factors that have been identified. Examples of criteria may include capacity to perform, past experience, financial strength, or references of previous work. Fixed weights and variable weights are the two most common forms of weighting systems.

A person, usually an employee, who exposes information or activity within a business or entity that is improper or illegal.

The act of exposing information or activity within a business or entity that is improper or illegal.

Doctrine that states that, where there is an ambiguity or other confusion within a written contract, courts must rely solely on what is intended by the contract as a whole rather than parsing individual phrases, clauses, or sentences.

A business or person that buys goods, generally in large quantities, from manufacturers and then sells them to retailers for a profit. See also: Retailer.

A reasonably balanced agreement, with each party feeling they obtained something beneficial.

Denotes that a woman (or women) has majority ownership and control of a business. See also: Historically Underutilized Business (HUB), Small Disadvantaged Business, Economically Disadvantaged Individuals.