Which of the following BEST facilitates the standardization of IT vendor selection?

Cost-benefit analysis is a tool used within the selection process to weigh financial implications, but it is not the overarching structure for standardization.

A contract management office is responsible for managing contracts after selection, not for standardizing the selection process itself.

Service level agreements (SLAs) define performance expectations with chosen vendors but are an outcome of the selection process, not the means to standardize the process itself.

A procurement framework provides a standardized set of policies, procedures, templates, and criteria for sourcing, evaluating, selecting, and engaging with vendors. This framework ensures a consistent, repeatable, and objective approach to vendor selection, leading to better decision-making and reduced risk across the organization.