Stakeholders’ Categorization of the Best Practices and Approaches for Financial Bids Evaluation for Sustainable Procurement in Public Organizations

Abstract

Despite the potential benefits associated with the adoption of financial bid evaluation that includes sustainable green public procurement in government organizations, its adoption by procuring entities in Nigeria remains limited as methodologies suitable to the PEs are not well evaluated in the procurement frameworks. The study is to evaluates the best practices and approaches used in award criteria and the implications of those approaches on the organizations. A quantitative approach design method was adopted. Questionnaires were administered to 56 respondents using simple random sampling techniques in six geo-political zones of Nigeria. Data collected were analysed using descriptive and inferential statistics. The result shows that multi-criteria is the best practice and approach in financial bid evaluation with the highest mean rank of 4.29 (1st) among the nine criteria for both the Likert and comparisons between the organizations. Furthermore, the lowest price-based and A+B method were ranked second (2nd) with a mean score of 3.96 each. The study concludes that multi-criteria is the best practice and approach in financial bid evaluation despite the fact that the lowest price-based method was the default used. Organizations should consider the adoption of the multi-criteria method in their financial bid evaluation