Best Value: Total Cost is categorized as what type of contract in the new edition?

The best value approach in project delivery emphasizes achieving high-quality outcomes while minimizing costs. In the context of contracts, "Best Value: Total Cost" pertains to how contracts are structured to optimize value for clients over the lifecycle of a project.

Design-Bid-Build contracts are typically characterized by a clear separation between the design and construction phases, allowing for a competitive bidding process once the design is complete. This model enables clients to select bidders not only based on cost, but also on quality and other value-driven criteria. In this paradigm, the focus is often on the total cost of the project, which includes both the direct costs and the long-term costs associated with maintenance, operation, and efficiency of the completed project.

The other contract types mentioned don't align with the "Best Value: Total Cost" principle as closely as Design-Bid-Build does. For example, cost-plus contracts involve payment for all construction costs plus a fixed fee or percentage, which does not inherently prioritize total cost control or value in the same structured manner. Time and materials and unit price contracts are also focused more on specific payment methods rather than a comprehensive evaluation of overall project value.

Thus, the alignment of the Design-Bid-Build approach with the best practice of emphasizing total costs