Past Performance Information: Analysis of the Optimization of a Performance Evaluation Criteria
Keywords:performance information, value based selection, performance metrics, past performance information
Performance information has been defined as “the set of metrics used to quantify both the efficiency and effectiveness of actions (Neely 1995).” From this definition, past performance information can be extrapolated to entail those metrics that consider the effectiveness of past or previous actions. Within value-based procurement methodologies, the use of past performance information as an evaluation criteria is common; however, the optimal use, method, specific criteria, and collection techniques vary widely across clients and buyers. This paper presents a history and evolution of the use of past performance information within a specific procurement and project delivery process called the Performance Information Procurement System (PIPS). It also includes an analysis of the modifications made, an analysis of the effort required for the inclusion of past performance information as a selection criteria as calculated from the procurer’s perspective, and an analysis of a new methodology of a vendor driven collection process as compared to a buyer driven collection process.