EL DORADO, Ark. Purity Ice Cream Company bought a new ice cream maker at the beginning of the year at a cost of$9,000. Instead, these reviews evaluate the economy and efficiency of the contractors existing work force, methods, materials, equipment, real property, operating systems, and management. The contractor assumes the least cost risk in a cost-plus-fixed-fee level-of-effort contract, under which it is reimbursed those costs determined to be allocable and allowable, plus the fixed fee. 3905: (A) For experimental, developmental, or research work performed under a cost-plus-fixed-fee contract, the fee shall not exceed 15 percent of the contracts estimated cost, excluding fee. -Price analysis -Excess from other agencies These should-cost reviews may be performed together or independently. Who Depending upon the estimated dollar value of the acquisition and agency procedures the decision to award will be made by? The TACPA business participation program requirement must be included in competitive acquisition with an estimated dollar value of $100,000 and over. (iii) Federal socioeconomic programs. (b) Certified cost or pricing data are not required for proposals used solely for overrun funding or interim billing price adjustments. Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. (A) Material acquisition. (b) Definition. If the ACO determines that a changed condition invalidates the agreement, the ACO shall notify all interested parties of the extent of its effect and status of efforts to establish a revised FPRA. Kauna unahang parabula na inilimbag sa bhutan. (2) A Certificate of Current Cost or Pricing Data, in the format specified in 15.406-2, certifying that to the best of its knowledge and belief, the cost or pricing data were accurate, complete, and current as of the date of agreement on price or, if applicable, an earlier date agreed upon between the parties that is as close as practicable to the date of agreement on price. Goes well beyond business valuation to address the specific needs of business buyers, transaction advisors and accountants . (3) The contracting officer should decide which elements of the contractors operation have the greatest potential for cost savings and assign the available personnel resources accordingly. Specify the total estimated dollar value of the acquisition, inclusive of options, and the total performance/delivery period. (v) Review to determine whether any cost data or pricing data, necessary to make the offerors proposal suitable for negotiation, have not been either submitted or identified in writing by the offeror. What is the method of procurement and synopsis for a requirement $15-$25K? (C) In evaluating assumption of cost risk, contracting officers shall, except in unusual circumstances, treat time-and-materials, labor-hour, and firm-fixed-price, level-of-effort term contracts as cost-plus-fixed-fee contracts. 3322(b) and 41 U.S.C. Acquisition premium represents the increased . (3) Obtain the type and quantity of data necessary to establish a fair and reasonable price, but not more data than is necessary. (ii) The Government proves that the facts demonstrate that the price would not have increased in the amount to be offset even if the available data had been submitted before the "as of" date specified on the Certificate of Current Cost or Pricing Data. The labor elements in the allocable indirect costs should be given the profit consideration they would receive if treated as direct labor. 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. The contracting officer shall not reprice the contract solely because the profit was greater than forecast or because a contingency specified in the submission failed to materialize. . The Economy Act does not apply when placing orders under GWACs. -Recommends a system of personal and organizational accountability for competition. (vi) Analysis of the results of any make-or-buy program reviews, in evaluating subcontract costs (see 15.407-2). Commercial Sources, Multi-agency contracts (MACs): Tradeoffs Acquisition Detail - purchase order number, donation source or gift source 9. This is because the act is one of potential fraud. (1) A program should-cost review is used to evaluate significant elements of direct costs, such as material and labor, and associated indirect costs, usually associated with the production of major systems. Vermilion's Board of Directors has approved an E&D capital budget of $425 million for 2022 which is expected to deliver annual average production of 83,000 to 85,000 boe/d, excluding any impact . Depending upon the estimated dollar value of the acquisition: the contracting officer or the source selection authority. 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. (1) Use the provision with its Alternate I to specify a format for certified cost or pricing data other than the format required by Table 15-2 of this section; (2) Use the provision with its Alternate II if copies of the proposal are to be sent to the ACO and contract auditor; (3) Use the provision with its Alternate III if submission via electronic media is required; and. Military Personnel - 1 year D&F are used for Options. Option fulfills an existing need (6) Percentage or dollar rate of royalty per unit. no, the tickets exceed the gratuity dollar threshold of $20, LIST FREQUENTLY USED CONTRACT TYPES: The choice of contract type to be used in a solicitation depends on, IMPORTANCE OF REQUIREMENTS DEFINITION PROCESS: The ___ is the document used to describe the work, - performance work statement or statement of work, IDENTIFY STEPS OF SERVICES ACQUISITION PROCESS: The phases of the services acquisition process are, IDENTIFY THE CORS ETHICAL RESPONSIBILITIES: You notice a contractor offering free lunch, IDENTIFY THE METHODS OF CONTRACTING: A blanket purchase agreement, IDENTIFY THE STEPS IN THE PROPOSAL EVALUATION PROCESS: The technical experts and nominated COR are usually involved in evaluating, IDENTIFY THE CATEGORIES OF CONTRACTS: A government preference is non-personal, x change a contractor employees duty hours, IDENTIFY ACTIVITIES PERFORMED IN PLANNING ACQUISITION: The Services Acquisition Process begins with planning, x acquisition planning, market research, acquisition strategy, LIST THE FREQUENTLY DELEGATED CONTRACT ADMINISTRATION DUTIES: when a contractor performs work beyond that required, POOR PERFORMANCE: You are monitoring a custodial contract (bathroom), ESTABLISHING/MAINTAINING COR FILE: As a matter of practice, when a COR holds a discussion, PERFORMANCE ASSESSMENT RESPONSIBILITIES: When assessing a contractor's performance, DUTIES AND FUNCTIONS OF A COR: Which of the following statements (false), IDENTIFY THE ELEMENTS OF CONTRACT PERFORMANCE MANAGEMENT: a properly written ____ focuses on the quality, quantity, timeliness etc, x quality assurance surveillance plan (QASP), EFFECTIVE ACQUISITION TEAM: Which selection best describes the preferred relationship, . (1) The contractor shall submit, or cause to be submitted by the subcontractor(s), certified cost or pricing data to the Government for subcontracts that are the lower of either-, (i) $15 million or more; or. Obtain certified cost or pricing data from prospective sources for those acquisitions (such as subcontracts, purchase orders, material order, etc.) The estimated values of K and m for various water and sewage treatment plant components are shown in Table 5-4. 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. adds rules and regulations that are not covered in the FAR. The contractor shall update subcontractors data, as appropriate, during source selection and negotiations. Competition in Contracting Act (CICA) PART 1--FEDERAL ACQUISITION REGULATIONS SYSTEM Principles of full & open competition The K values are based on 1968 dollars. (2) A program should-cost review should be considered, particularly in the case of a major system acquisition (see part 34), when-. (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. After completing the negotiation, the contracting officer shall provide the ACO a report of any identified uneconomical or inefficient practices, together with a report of correction or disposition agreements reached with the contractor. The prime contractor is responsible for managing contract performance, including planning, placing, and administering subcontracts as necessary to ensure the lowest overall cost and technical risk to the Government. Over $700K - $13.5 Million - Competition Advocate for the procuring activity (not delegable) The contracting officer should consider whether a contractor or subcontractor has an approved purchasing system, has performed cost or price analysis of proposed subcontractor prices, or has negotiated the subcontract prices before negotiation of the prime contract, in determining the reasonableness of the prime contract price. Which of the following individuals has expressed authority to enter into and administer contracts and is responsible for ensuring? Policy When taking into account expected run-rate synergies and tax benefits, the acquisition reflects a multiple of 8.3 times estimated LTM Adjusted EBITDA. (2) Agencies may use another agencys structured approach. Where the determination of a fair and reasonable price is based on cost analysis, the summary shall address each major cost element. -Service contract It applies to the data upon which the judgment or estimate was based. Information made available under this paragraph shall be limited to that used as the basis for the prime contract price reduction. Not specific (1) An overhead should- cost review is used to evaluate indirect costs, such as fringe benefits, shipping and receiving, real property, and equipment, depreciation, plant maintenance and security, taxes, and general and administrative activities. . 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. What is the cost of 5.55.55.5 pounds of chicken breasts if they cost $3.49\$3.49$3.49 per pound? -Contracting Officer SHALL NOT commence sole source negotiations without a J&A In this case, he could multiply his purchase price of $100,000 by 25% to get a land value of $25,000. The head of the contracting activity (HCA) may, without power of delegation, waive the requirement for submission of certified cost or pricing data in exceptional cases. (a) Using an acceptable estimating system for proposal preparation benefits both the Government and the contractor by increasing the accuracy and reliability of individual proposals. 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. (B) The contractor assumes the greatest cost risk in a closely priced firm-fixed-price contract under which it agrees to perform a complex undertaking on time and at a predetermined price. A copy of the information submitted to the contracting officer by field pricing personnel shall be provided to the audit agency. (A) This factor measures the degree of cost responsibility and associated risk that the prospective contractor will assume as a result of the contract type contemplated and considering the reliability of the cost estimate in relation to the complexity and duration of the contract task. (2) Format for submission of data other than certified cost or pricing data. (a) General. Considering the hierarchy at 15.402, the contracting officer shall insert the clause at 52.215-21, Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data-Modifications, in solicitations and contracts if it is reasonably certain that certified cost or pricing data or data other than certified cost or pricing data will be required for modifications. Attach a detailed inventory of work, materials, parts, components, and hardware already purchased, manufactured, or performed and deleted by the change, indicating the cost and proposed disposition of each line item. The contracting officer immediately shall take appropriate action to obtain the required data. Which of the following are remedies that the contracting officer has at his/her disposal for a contractor's poor performance? (B) For acquisitions funded by DoD, NASA, or Coast Guard, such modifications of a commercial product are exempt from the requirement for submission of certified cost or pricing data provided the total price of all such modifications under a particular contract action does not exceed the greater of the threshold for obtaining certified cost or pricing data in 15.403-4 or 5 percent of the total price of the contract at the time of contract award. Date, quantity, and dollar value of items received into inventory 9. trade-offs made or relied on by the KO, including benefits associated with additional costs. It is not right to use the government card for such purchases. (c) The contracting officer and contractor are encouraged to reach a prior agreement on criteria for establishing closing or cutoff dates when appropriate in order to minimize delays associated with proposal updates. This factor takes into account the contribution of contractor investments to efficient and economical contract performance. What are the 7 Statutory Exceptions to Full and Open Competition? (vi) Identification of proposed subcontractors, if known, and their location and size status (also see subpart 19.7 for subcontracting plan requirements). prefers not to use Make negotiated equitable adjustments and definitize change orders, Provide technical direction that does not change the contract in accordance with the Letter of designation received from the Contracting officer. (vi) Comparison of proposed prices with prices obtained through market research for the same or similar items. (ii) In accordance with section 41 U.S.C. -Technical and Requirements personnel are responsible for submitting J&A. As well, generally internally generated goodwill and other intangible assets can not be recognized on the balance sheet. Most competitive negotiated acquisitions are awarded in this manner. (3) Court decision. All responsible sources are permitted to compete. (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. What activity best helps the gov. When cost analysis is required, the contracting officer shall document the pertinent issues to be negotiated, the cost objectives, and a profit or fee objective. Actual annual usage was 5,500 hours . If there are such data, the contracting officer shall attempt to obtain and use them in the negotiations or make satisfactory allowance for the incomplete data. For this test only the first part of the text of the question is displayed. Which type of contract arrangement puts the risk Evaluate the effectiveness of the various tools of U.S. foreign policy. Urgency What are the dollar thresholds for J&A approval? What are the two major types of contracts? Price Changes. A widely used method of measuring operating effectiveness Financial statements should be reviewed A. (3) Cost analysis shall be used to evaluate the reasonableness of individual cost elements when certified cost or pricing data are required. Pronouncements in the form of periodic rulings, reviews, or similar actions of a governmental body, or embodied in the laws, are sufficient to set a price. Contracting Officers SHALL promote and provide for full and open competition in soliciting offers and awarding Government contracts. plan, develop, execute . (C) For acquisitions funded by DoD, NASA, or Coast Guard such modifications of a commercial product are not exempt from the requirement for submission of certified cost or pricing data on the basis of the exemption provided for at 15.403-1(c)(3) if the total price of all such modifications under a particular contract action exceeds the greater of the threshold for obtaining certified cost or pricing data in 15.403-4 or 5 percent of the total price of the contract at the time of contract award. Designated at the agency and each procuring activity and responsible for: (i) Waiver of Facilities Capital Cost of Money. (a) The purpose of performing cost or price analysis is to develop a negotiation position that permits the contracting officer and the offeror an opportunity to reach agreement on a fair and reasonable price. The completed field pricing assistance results may reference audit information, but need not reconcile the audit recommendations and technical recommendations. Historical acquisition data each acquisition of suppliesor services that has an anticipated dollar value above the micro-purchasethreshold, but not over the simplified acquisition threshold, shall beset aside for small business unless the contracting officer determinesthere is not a reasonable expectation of obtaining offers from twoor more responsible small business 1. Firm _____________________________________________, Signature _________________________________________, Name ____________________________________________, Title _____________________________________________, Date of execution***________________________________. Current Projects. Annual run rate synergies of $28 million are expected to be achieved by the third year. (B) In order to make this determination, the contracting officer may request the offeror to submit prices paid for the same or similar commercial services under comparable terms and conditions by both Government and commercial customers; and. 453.94 $46.38. trade-offs made or relied on by the KO, including benefits associated with additional costs. Law The Federal Government's authority to enter into contracts derives from the U.S. Constitution, which defines its powers. CONTRACT AWARD: Depending upon the estimated dollar value of the acquisition: . -Helps the agency to meet their small business goals Upon identification of the acquirer and determination of the acquisition date, business combinations are accounted for through the preparation of a Purchase Price Allocation (PPA). (iii) In arriving at the amount due for penalties on contracts where the submission of defective certified cost or pricing data was a knowing submission, the contracting officer shall obtain an amount equal to the amount of overpayment made. -Extent and nature of proposed subcontract -Restrict solicitation to suppliers of well-known and widely distributed makes or brands. (2) Its Alternate II, if a cost-plus-incentive-fee contract is contemplated. will provide a debriefing to the SSA upon request. A method to calculate non-operating income A. Agencies shall ensure updated information that changes a contracting officers prior final determination is reported into the FAPIIS module of Contractor Performance Assessment Reporting System (CPARS) in the event of a. Also submit any information reasonably required to explain your estimating process (including the judgmental factors applied and the mathematical or other methods used in the estimate, including those used in projecting from known data, and the nature and amount of any contingencies included in the price). (2) Contracting officers may require prospective contractors to submit make-or-buy programs for negotiated acquisitions whose estimated value is under $15 million only if the contracting officer-, (i) Determines that the information is necessary; and. Change in ROE of combined firm. SUBCHAPTER A--GENERAL (A) Two or more responsible offerors, competing independently, submit priced offers that satisfy the Governments expressed requirement; (B) Award will be made to the offeror whose proposal represents the best value (see 2.101) where price is a substantial factor in source selection; and. This factor measures the degree of support given by the prospective contractor to Federal socioeconomic programs, such as those involving small business concerns, small business concerns owned and controlled by socially and economically disadvantaged individuals, women-owned small business concerns, veteran-owned, HUBZone, service-disabled veteran-owned small business concerns, sheltered workshops for workers with disabilities, and energy conservation.
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