Indeed. Typically, being able to build the thing is a requirement, and that is typically made objectively measurable by stating that you must have successfully built similar projects.

That has its downsides, too. A common complaint in the EU is that there is no way for small building companies to become large companies. Reason is that, to become a large company, you have to do large projects, and to get large projects, you have to have done large projects.

In the EU, when comparing offers, one doesn't have to pick the absolutely cheapest that meets the requirements, either. A slightly more expensive offer that more than meets the requirements (for example by having much less environmental impact, by requiring less closure time of a road, or by producing something that has lower maintenance costs) can windhover one that just meets the requirements.

It's part of your grade, but it is rarely an overriding factor in my experience. Lots of experience plus slightly higher price will beat little experience and slightly lower price, but it won't beat little experience and very low price.

I was recently involved in a bid for a government contract where we got perfect scores on all factors, but still lost the bid to a small company with little to no relevant experience, but who claimed they could to the job for a third of the price.