In a selection process emphasizing both price and non-price factors, what is this called?

The term that describes a selection process where both price and non-price factors are considered is referred to as "Best value." This approach goes beyond merely evaluating proposals on the basis of the lowest cost; it incorporates qualitative factors such as experience, technical capability, project management skills, and overall approach to the project. Consequently, this allows decision-makers to select a contractor or proposal that offers the optimal combination of cost and quality, ultimately leading to better project outcomes.

In contrast, competitive bidding typically focuses on obtaining the lowest price without weighing additional qualitative factors, which can lead to suboptimal selections in terms of project execution and results. A fixed price refers to a specific, predetermined cost for services rendered, which does not involve an evaluation of non-price factors. Variable assessment, while suggesting flexibility in the evaluation process, is not a widely recognized term or concept within procurement practices related to design-build or selection processes.