What is typically minimized when keeping the shortlist small in a selection process?

Keeping the shortlist small in a selection process is typically aimed at minimizing costs for procurement. A smaller shortlist limits the number of teams that need to be evaluated, which can decrease the resources and expenses involved in the review and selection process. Evaluating a larger number of bids requires more time and effort, including detailed assessments and potential interviews, all of which can increase costs significantly. By focusing on a short list of qualified candidates, organizations can streamline their procurement activities, make quicker decisions, and ultimately reduce overall expenses associated with the selection process. This approach also allows for a more manageable analysis of the proposals received, enhancing the ability to compare them effectively without overspending on administrative and evaluation costs.