High Value Procurement

High Value Procurement refers to purchases from $25,000 to $99,999.99, under the Competitive Procurement threshold.

UTM Procurement provides consultation to departments seeking advice and direction on their High Value Procurements, with regards to the following areas:

  • Sourcing
  • Policy compliance
  • Contract review and administration
  • General queries

Departments may obtain their quotations in compliance with the Purchasing Policy.  The following Sample Request for Quote Templates may be used to request and/or record item quote information from vendors:

The evaluation of quotations can based on "Lowest Cost Approach" or "Best Value Approach". 

  • Lowest Cost Approach – select the quotation with the lowest pricing; OR
  • Best Value Approach – select the quotation that adds the "Best Value", using criteria other than pricing, such as quality, functionality, specific capabilities, warranties, delivery. Provide a short rationale for the Best Value purchase.

Departments must create their Purchase Requisitions within the Financial Information System (FIS), and submit all supporting documentation for High Value Purchases directly to UTM procurement for assessment and processing.