Historical acquisition data (b) The contracting officers primary concern is the overall price the Government will actually pay. (j) Reversion or Adjustment of Plans for Postretirement Benefits (PRB) Other Than Pensions. Also show how the costs would be allocated to the units at their various stages of contract completion. Seven statutory exceptions. (l) Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data. Column(2) minus Column(3) equals Column(4). This dollar range is current as of the date of issuance of interim acquisition policy memorandum No. Unless an exception applies, certified cost or pricing data are required before accomplishing any of the following actions expected to exceed the current threshold or, in the case of existing contracts, the threshold specified in the contract: (i) The award of any negotiated contract (except for undefinitized actions such as letter contracts). Enter your estimate for cost of work added by the change. See 86 Fed. Chapter 3 LS Flashcards | Chegg.com The negotiation of a contract type and a price are related and should be considered together with the issues of risk and uncertainty to the contractor and the Government. PART 1--FEDERAL ACQUISITION REGULATIONS SYSTEM The contracting officer shall establish a follow-up plan to monitor the correction of the uneconomical or inefficient practices. Disposal - upgraded (list new serial number), transferred, sold or destroyed For acquisitions of supplies or services for supporting a contingency operation or facilitating defense against or recovery from nuclear, biological, chemical, or radiological attack, the SAT is (i) $800,000 . (3) Court decision. What are the dollar thresholds for J&A approval? Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. Consequently, award of any lower-tier subcontract expected to exceed the certified cost or pricing data threshold requires the submission of certified cost or pricing data unless-, (i) An exception otherwise applies to the subcontract; or. Enter the number of units remaining to be completed under the contract. (2) When the price negotiation is based on cost analysis, contracting officers in agencies that have a structured approach shall use it to analyze profit. develop independent gov. INVOICE: Wide Area Work Flow (WAWF) is a Paperless Contracting. (i) Startup work, mobilization, first articles, or first article testing are separate line items; (ii) Base quantities and option quantities are separate line items; or. (h)Ensuring that the principles of this subpart are used, as appropriate, for those acquisitions that do not require a written plan as well as for those that do. 2. This results in a change in delivery schedule and increased cost to the contractor. 2. Enter your redetermination proposal amount. true. -Performance by other than executive, admin or professional employees The FAR applies to all acquisitions as defined in the FAR, except where expressly excluded. Where are Acquisition plans found in the FAR? PART 2--DEFINITIONS OF WORDS AND TERMS With this deal, the combined value of the company amounts to $1.3 billion. Depending on the estimated dollar value of the acquisition, the decision to award may be the KO or designated source selection authority. (ii) For agencies other than DoD, NASA, and the Coast Guard, a price is also based on adequate price competition when, (A) There was a reasonable expectation, based on market research or other assessment, that two or more responsible offerors, competing independently, would submit priced offers in response to the solicitation's expressed requirement, even though only one offer is received from a responsible offeror and if-, (1) Based on the offer received, the contracting officer can reasonably conclude that the offer was submitted with the expectation of competition, e.g., circumstances indicate that, (i) The offeror believed that at least one other offeror was capable of submitting a meaningful offer; and, (ii) The offeror had no reason to believe that other potential offerors did not intend to submit an offer; and, (2) The determination that the proposed price is based on adequate price competition and is reasonable has been approved at a level above the contracting officer; or. (c) The Governments cost objective and proposed pricing arrangement directly affect the profit or fee objective. (d) Deficient proposals. The other elements of indirect costs should be evaluated to determine whether they merit only limited profit consideration because of their routine nature, or are elements that contribute significantly to the proposed contract. Quantity deleted from inventory 11. Who Depending upon the estimated dollar value of the acquisition and agency procedures the decision to award will be made by? CONTRACT AWARD: Depending upon the estimated dollar value of the acquisition: . (5) When a program should-cost review is planned, the contracting officer should state this fact in the acquisition plan or acquisition plan updates (see subpart 7.1) and in the solicitation. (2) The contracting officer shall not request a separate preaward audit of indirect costs unless the information already available from an existing audit, completed within the preceding 12 months, is considered inadequate for determining the reasonableness of the proposed indirect costs ( 41 U.S.C.4706 and 10 U.S.C. "Upon closing this transaction, we will have acquired more than 55,000 net acres of highly productive, oil-weighted inventory in Howard and western Glasscock counties in just two years . (a) General. -Type and complexity of requirement (v) GSA use of the Government purchase card for micro-purchases shall follow the instructions under GSA Order 4200.1A CFO. Unless an exception from the requirement to obtain certified cost or pricing data applies under 15.403-1(b)(1) or (b)(2), at a minimum, the contracting officer shall obtain appropriate data, without certification, on the prices at which the same or similar items have previously been sold and determine if the data is adequate for evaluating the reasonableness of the price. (c) Contracting officer responsibilities. ASD will maintain the site. true. The head of the contracting activity shall justify the requirement for certified cost or pricing data. Answer (1 of 4): You are correct. Requesting unnecessary data can lead to increased proposal preparation costs, generally extend acquisition lead time, and consume additional contractor and Government resources. (A) The repayment amount; (B) The penalty amount (if any); (C) The interest amount through a specified date; and. (2) The contracting officer should require the contractor or subcontractor to submit to the Government (or cause submission of) subcontractor certified cost or pricing data below the thresholds in paragraph (c)(1) of this subsection and data other than certified cost or pricing data that the contracting officer considers necessary for adequately pricing the prime contract. When recording the acquisition of a General PP&E asset in a property accountability and/or accounting system, the asset shall be assigned a dollar value as detailed in this Chapter. Identify the attachment in which the information supporting the specific cost element may be found. The contracting officer immediately shall take appropriate action to obtain the required data. (2) The contracting officer shall insert the clause with its Alternate I when contracting without adequate price competition or when prescribed by agency regulations. -FAR 13.104 - Contracting Officer must promote competition: This factor takes into account the contribution of contractor investments to efficient and economical contract performance. Computing Depreciation under Alternative Methods. the contracting officer or the source selection authority. Depending upon the estimated dollar value of the acquisition and agency procedures the decision to award will be made by? This includes requiring data from an offeror to support a cost realism analysis; (iii) Consider whether cost data are necessary to determine a fair and reasonable price when there is not adequate price competition; (iv) Require that the data submitted by the offeror include, at a minimum, appropriate data on the prices at which the same item or similar items have previously been sold, adequate for determining the reasonableness of the price unless an exception under 15.403-1(b)(1) or (2) applies; and. 1.5 Agency and Public Participation Milestones (at which decisions should be made) The liability for each facility will be accreted to its present value, which is estimated to approximate $16.4 million through the estimated settlement dates extending from 2009 through 2042. Source selection procedures What is significant depends upon the circumstances of each acquisition. depending upon the estimated dollar value of the acquisition . (iii) Determined that an exception applied after the data were submitted and, therefore, considered not to be certified cost or pricing data. If cost or price analysis techniques indicate that an offer is unbalanced, the contracting officer shall-, (i) Consider the risks to the Government associated with the unbalanced pricing in determining the competitive range and in making the source selection decision; and. STRUCTURE OF THE FAR TO THE SUBPART LEVEL SUBCHAPTER A--GENERAL PART 1--FEDERAL ACQUISITION REGULATIONS SYSTEM 1.1 Purpose, Authority, Issuance 1.2 Administration 1.3 Agency Acquisition Regulations 1.4 Deviations from the FAR 1.5 Agency and Public Participation 1.6 Contracting Authority and Responsibilities 1.7 . -Service contract Purchase Card and is not required to be advertised. Fixed price contracts (4) Value analysis can give insight into the relative worth of a product and the Government may use it in conjunction with the price analysis techniques listed in paragraph (b)(2) of this section. (vi) Independent development. Policy - FAR 19.201 What are the Contents of a Written Acquisition Plans? It applies to the data upon which the judgment or estimate was based. Change in ROE of combined firm. 3705(b) and 41 U.S.C. This factor should compensate contractors proportionately for assuming greater cost risks. The labor elements in the allocable indirect costs should be given the profit consideration they would receive if treated as direct labor. For standard commercial products fabricated by the offeror that are generally stocked in inventory, provide a separate cost breakdown, if priced based on cost. (d) Change order authority.Contracting officers may authorize COR change order authority in accordance with the limitations in . expected value from each acquisition; we show it to be superior both to uniform acquisitions and to policies that consider the acquisition only of feature values or only of class labels. Taking into consideration the advisory recommendations, reports of contributing specialists, and the current status of the contractors purchasing system, the contracting officer is responsible for exercising the requisite judgment needed to reach a negotiated settlement with the offeror and is solely responsible for the final price agreement. (ii) Both more than the pertinent certified cost or pricing data threshold and more than 10 percent of the prime contractors proposed price, unless the contracting officer believes such submission is unnecessary. 7. ray_harris9. (2) The offerors program should include or be supported by the following information: (i) A description of each major item or work effort. There are also certain dollar thresholds that trigger specialised treatment or procedures under the FAR. DealSense is the all-in-one system for business valuation, pricing, financing, projecting and evaluating the economics of middle-market mergers and acquisitions including combinations, consolidations and rollups. Your personal and professional conduct influences the public's confidence in the federal acquisition process. Urgency The fees are additional dollars paid to the contractor based upon the contractor meeting or . evaluation is the primary/apex function of (1) the source selection process, (2) evaluation/acceptance criteria and a primary element of the acquisition strategy.the evaluation/examination/assessment involves the determination of an offeror's particular or special ability to perform well (" how well"); meet the non-cost factor capability The dollar value will be supported by appropriate documentation. While the particular elements to be analyzed are a function of the contract work task, elements such as manufacturing, pricing and accounting, management and organization, and subcontract and vendor management are normally reviewed in a should-cost review. When there is a repetitive need for supplies or services. Ant Fileset Multiple Directories, (2) The Government may use various price analysis techniques and procedures to ensure a fair and reasonable price. (i) The probable cost may differ from the proposed cost and should reflect the Governments best estimate of the cost of any contract that is most likely to result from the offerors proposal. The statement of applicability may state that the information in the part applies to a distinct set of acquisitions, does not apply to a distinct set of acquisitions, or both. It's important to note, however, that as a good proportion (or indeed all) of the consideration paid could be the equity of the buyer, the acquisition price could depend on how the market reacts to the transaction. Designated at the agency and each procuring activity and responsible for: These should-cost reviews may be performed together or independently. accepting an unsolicited gift valued at $15, IMPORTANCE OF REQUIREMENTS DEFINITION PROCESS: The COR will be evaluating a contractor's performance using the ___, . In order to afford an opportunity for corrective action, the contracting officer should give the prime contractor reasonable advance notice before determining to reduce the prime contract price. ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets) Estimated Capacity based upon POW = $250,000 . If a less economical "make" or "buy" categorization is selected for one or more items of significant value, the contracting officer shall use the clause with-, (1) Its Alternate I, if a fixed-price incentive contract is contemplated; or. However, the contracting officer may agree to these as "make items" if an overall lower Governmentwide cost would result or it is otherwise in the best interest of the Government. ARB Coordinator. Assist small business concerns, veteran owned small business concerns, HUBZone small business concerns, small disadvantaged business concerns and women-owned small business in obtaining contracts and subcontracts. Explain the basis for the estimates, including identification of any provision for experienced or anticipated allowances, such as shrinkage, rework, design changes, etc. These references provide detailed discussion and examples applying pricing policies to pricing problems. Typically this is determined by a dollar value cut off based on the size of the Target - for example, all agreements which involve (or which could potentially involve) more than $50,000 in value or which the Company's operations are substantially dependent. Depending on the brand and quality level of the asset, these figures can also be higher. What are the 7 Statutory Exceptions to Full and Open Competition? In addition, provide a summary of your cost analysis and a copy of certified cost or pricing data submitted by the prospective source in support of each subcontract, or purchase order that is the lower of either $15 million or more, or both more than the pertinent certified cost or pricing data threshold and more than 10 percent of the prime contractor's proposed price. (b) Price analysis. (3) Contracting officers shall use the Government prenegotiation cost objective amounts as the basis for calculating the profit or fee prenegotiation objective. PART 3--IMPROPER BUSINESS PRACTICES AND PERSONAL CONFLIC, Required Sources of Supplies and Services. Unless the acquisition requires synopsizing: Most competitive negotiated acquisitions are awarded in this manner. assignment standards and adequately supports the value estimate, and specifically Question One The correct answer is Report to supervisor. DoD, GSA, and NASA published an interim rule in the Federal Register at 75 FR 34277 on June 16, 2010, to implement section 826, Market Research, of the National Defense Authorization Act for Fiscal Year 2008 ( Pub. What are some potential sources for conducting market (4) General access to the offerors books and financial records is limited to the auditor. on the contractor? The Economy Act gives us the authority to use another organization to obtain the supplies or services that we need, T&M contracts provide for acquiring supplies or services on the basis of - To the extent necessary to secure a prime contract price reduction, the contracting officer should make this information available to the prime contractor or appropriate subcontractors, upon request. a detailed analysis of the various cost elements associated with the acquisition that is used to estimate its cost or price. (ii) Documents the reasons in the contract file. Its number 2.1 Definitions Subcontractor certified cost or pricing data must be accurate, complete and current as of the date of final price agreement, or an earlier date agreed upon by the parties, given on the prime contractors Certificate of Current Cost or Pricing Data. Inventory balance on hand both quantity and dollar value The inventory system must be maintained on a first-in, first-out (FIFO) basis. Request for Quotation - Simplified Acquisition Procedures - FAR Part 13 (g) Pension Adjustments and Asset Reversions. For this test only the first part of the text of the question is displayed. This certification includes the cost or pricing data supporting any advance agreements and forward pricing rate agreements between the offeror and the Government that are part of the proposal. true The choice of contract type to be used in a solicitation depends on the: All of the answers are correct The COR will be evaluating a contractor's performance using the ____ Quality assurance surveillance plan (7) The Air Force Institute of Technology (AFIT) and the Federal Acquisition Institute (FAI) jointly prepared a five-volume set of Contract Pricing Reference Guides to guide pricing and negotiation personnel. , when the estimated value equals or exceeds $25,000, but is less than $182,000 , unless an exception at FAR 25.401 or 225.401 applies. Life-cycle cost Acquholllon DEVELOP SIJ'8tegy rl Date, quantity, and dollar value of items received into inventory 9. Healy, Palepu, and Ruback (1997) argue that advantages of using a sample of large acquisitions over a random sample include (1) the dollar value of the The estimated useful life was four years, and the residual value was $1,000. (c) Not include in a contract price any amount for a specified contingency to the extent that the contract provides for a price adjustment based upon the occurrence of that contingency. 3703(a)(1)(A) and 41 U.S.C.3503(a)(1)(A)). Firm _____________________________________________, Signature _________________________________________, Name ____________________________________________, Title _____________________________________________, Date of execution***________________________________. A method to calculate non-operating income A.
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