depending upon the estimated dollar value of the acquisition

the contracting officer or the source selection authority, INVOICE: Wide Area Work Flow (WAWF) is a Paperless Contracting, ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets), . The ACO should use this information to form the basis for the Government position in negotiating an FPRA with the contractor. Before taking any contractual actions concerning penalties, the contracting officer shall obtain the advice of counsel. As well, generally internally generated goodwill and other intangible assets can not be recognized on the balance sheet. research? In establishing the reasonableness of the offered prices, the contracting officer -. This factor should compensate contractors proportionately for assuming greater cost risks. Cognizant audit activities, when it is appropriate to do so, shall establish and manage regular programs for reviewing selected contractors estimating systems or methods, in order to reduce the scope of reviews to be performed on individual proposals, expedite the negotiation process, and increase the reliability of proposals. Actual cost for materials Acquisition premium represents the increased . true. (iii) Federal socioeconomic programs. This article explores the implications of acquisition value assessment for homesteaded property established in 1983 in Muscogee County, Georgia. (a) General. The contracting officer shall insert the provision at 52.215-16, Facilities Capital Cost of Money, in solicitations expected to result in contracts that are subject to the cost principles for contracts with commercial organizations (see subpart 31.2). (iii) The evaluated price is the aggregate of estimated quantities to be ordered under separate line items of an indefinite-delivery contract. A copy of the memorandum or other notice of the contracting officers determination shall be provided to the contractor. , 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. (3) Format for submission of data supporting forward pricing rate agreements. Column(5) minus Column(4) equals Column(6). (d) Possession of a Certificate of Current Cost or Pricing Data is not a substitute for examining and analyzing the contractors proposal. PART 2--DEFINITIONS OF WORDS AND TERMS The range of data from which the K and m values are derived in the primary sources should be observed in order to use them in making cost estimates. For standard commercial products fabricated by the offeror that are generally stocked in inventory, provide a separate cost breakdown, if priced based on cost. Acquisition Detail - purchase order number, donation source or gift source 9. b. Justification and agency approval must be documented in the contract file. Contracting Officer must not: 1.2 Administration The estimate should consider the technical content of the program described in the CNS, UA, acquisition strategy, and test strategy. Evaluate the effectiveness of the various tools of U.S. foreign policy. Price analysis may include evaluating data other than certified cost or pricing data obtained from the offeror or contractor when there is no other means for determining a fair and reasonable price. This is because the act is one of potential fraud. What is the order of priority for the required sources of supply? (1) The contracting officer shall insert the clause at 52.215-14, Integrity of Unit Prices, in solicitations and contracts except for-. Some firm-fixed-price contracts may entail substantially less cost risk than others because, for example, the contract task is less complex or many of the contractors costs are known at the time of price agreement, in which case the risk factor should be reduced accordingly. quality assurance surveillance plan (QASP), IMPORTANCE OF ESTABLISHING/MAINTAINING THE COR FILE: As a minimum, the COR's file should contain, x technical progress reports and financial status report, IDENTIFY THE ACTIVITIES IN THE CONTRACT AWARD PROCESS: The __ is the automated contracting system, FREQUENTLY USED CONTRACT TYPES: Which selection below describes a fixed price contract, . The authorization for the waiver and the supporting rationale shall be in writing. What is the depreciation expense for 2019? Seven statutory exceptions. (3) Commercial products and commercial services. Purchase Card and is not required to be advertised. assignment standards and adequately supports the value estimate, and specifically Question One The correct answer is Report to supervisor. The research will vary, depending on such factors as urgency, estimated dollar value, complexity, and past experience. Unless it is clearly inappropriate or not applicable, each factor outlined in paragraphs (d)(1)(i) through (vi) of this subsection shall be considered by agencies in developing their structured approaches and by contracting officers in analyzing profit, whether or not using a structured approach. Price adjustment amounts must consider both increases and decreases (e.g., a $500,000 modification resulting from a reduction of $1,500,000 and an increase of $1,000,000 is a $2,500,000 pricing adjustment exceeding the $2,000,000 threshold). (v) Designation of the plant or division proposed to make each item or perform each work effort, and a statement as to whether the existing or proposed new facility is in or near a labor surplus area. (iv) Verification that the offeror's cost submissions are in accordance with the contract cost principles and procedures in part 31 and, when applicable, the requirements and procedures in 48 CFR chapter 99, Cost Accounting Standards. (3) For services that are not offered and sold competitively in substantial quantities in the commercial marketplace, but are of a type offered and sold competitively in substantial quantities in the commercial marketplace, see 15.403-1(c)(3)(ii). (ii) May prescribe specific exemptions for situations in which mandatory use of a structured approach would be clearly inappropriate. ARB Coordinator. Date, quantity, and dollar value of items received into inventory 9. . -Agency Inventories Computing Depreciation under Alternative Methods. fiscal policy. The Services Acquisition Process includes planning, development and execution. Select and defend the tools you think are more effective in promoting the national interest. (i) A price is based on adequate price competition when (A) Two or more responsible offerors, competing independently, submit priced offers that satisfy the Government's 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 Compatibility with other systems For this test only the first part of the text of the question is displayed. Active Feature-value Acquisition 2.1. Results of the analysis may be used in performance risk assessments and responsibility determinations. Depending upon decisions made during the planning phase, the procurement may be informal or formal; the selected competition method may be a phone call, or a written solicitation document. (d) Change order authority.Contracting officers may authorize COR change order authority in accordance with the limitations in . When a forward pricing rate agreement or other advance agreement is used to price a contract action that requires a certificate, the certificate supporting that contract action shall cover the data supplied to support the FPRA or other advance agreement, and all other data supporting the action. 1 . Apostolos Tsitsipas Born, However, if the contracting officer has reason to believe exceptional circumstances exist and has sufficient data available to determine a fair and reasonable price, then the contracting officer should consider requesting a waiver under the exception at 15.403-1(b)(4). (3) The clauses referred to in paragraph (b)(1) of this subsection recognize that the Governments right to a price adjustment is not affected by any of the following circumstances: (i) The contractor or subcontractor was a sole source supplier or otherwise was in a superior bargaining position; (ii) The contracting officer should have known that the certified cost or pricing data in issue were defective even though the contractor or subcontractor took no affirmative action to bring the character of the data to the attention of the contracting officer; (iii) The contract was based on an agreement about the total cost of the contract and there was no agreement about the cost of each item procured under such contract; or. -Price competition Enter the number of units remaining to be completed under the contract. Over $93 Million - Under Secretary of Defense for AL&T. (5) Brief description (including any part or model numbers of each contract item or. (b) Exceptions to certified cost or pricing data requirements. (i)Designating planners for acquisitions. Inventory balance on hand both quantity and dollar value The inventory system must be maintained on a first-in, first-out (FIFO) basis. (2) Under cost-reimbursement contracts and under all fixed-price contracts except firm-fixed-price contracts and fixed-price contracts with economic price adjustment, payments to subcontractors that are higher than they would be had there been no defective subcontractor certified cost or pricing data shall be the basis for disallowance or nonrecognition of costs under the clauses prescribed in 15.408(b) and (c). RECOGNIZE THE DUTIES AND FUNCTIONS EXPECTED OF A COR: When performing surveillance on a contract, - ensure government furnished property - verify that required department of labor - conduct site visits, LIST THE FREQUENTLY DELEGATED CONTRACT ADMINISTRATION DUTIES: The COR is authorized to, - provide technical direction that does not change the contract. The contracting officer shall send one copy of this memorandum to the auditor and, if the contract has been assigned for administration, one copy to the administrative contracting officer (ACO). Depending on the complexity of the acquisition, the evaluation process can last anywhere from a few days to several months. (j) Reversion or Adjustment of Plans for Postretirement Benefits (PRB) Other Than Pensions. (ii) In accordance with section 41 U.S.C. (ii) The probable cost is determined by adjusting each offerors proposed cost, and fee when appropriate, to reflect any additions or reductions in cost elements to realistic levels based on the results of the cost realism analysis. Optional, unless required by the Contracting Officer. (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. The fact that a price is included in a catalog does not, in and of itself, make it fair and reasonable. Just as actual costs may vary from estimated costs, the contractors actual realized profit or fee may vary from negotiated profit or fee, because of such factors as efficiency of performance, incurrence of costs the Government does not recognize as allowable, and the contract type. true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets). . The FAR Matrix is located in what FAR Part? (3) Contract actions awarded pursuant to subparts 19.5, 19.8, 19.13, 19.14, or 19.15 are exempt from the requirements of this paragraph (h) (see section 1615 of the National Defense Authorization Act for Fiscal Year 2014 (Pub. Even so, not all startups that are little more than a few engineers working on an idea sketched out in a PowerPoint slide deck are the same. (e) If both the contractor and subcontractor submitted, and the contractor certified, or should have certified, cost or pricing data, the Government has the right, under the clauses at 52.215-10, Price Reduction for Defective Certified Cost or Pricing Data, and 52.215-11, Price Reduction for Defective Certified Cost or Pricing Data-Modifications, to reduce the prime contract price if it was significantly increased because a subcontractor submitted defective data. Before making such a determination, the contracting officer should give the contractor an opportunity to support the accuracy, completeness, and currency of the data in question. Enter those necessary and reasonable costs that in your judgment will properly be incurred in completing the remaining work to be performed under the contract with respect to the item(s) to which your proposal relates. true. Match. Restaurants In Sorrento With A View, Av. (b) Certified cost or pricing data are not required for proposals used solely for overrun funding or interim billing price adjustments. Civilian agencies, other than NASA, must furnish copy of approved deviation to the FAR Secretariat, Affect only one contract action The amount of time necessary for the planning process is dependent upon the dollar value, risk, complexity, and criticality of the proposed purchase. What are the three types of indefinite delivery contracts? (7) A summary of the contractors proposal, any field pricing assistance recommendations, including the reasons for any pertinent variances from them, the Governments negotiation objective, and the negotiated position. 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. (1) The contracting officer shall insert the provision at 52.215-22, Limitations on Pass-Through Charges-Identification of Subcontract Effort, in solicitations containing the clause at 52.215-23. In this module, the following topics will be covered: 1) estimates of the values of environmental goods in dollar terms, and 2) the strengths and weaknesses of valuation methods in all three parts of the environmental valuation toolkit. Request for Quotation - Simplified Acquisition Procedures - FAR Part 13 chapter 271 for truth in negotiations) only if the contracting officer determines in writing that the offeror has submitted sufficient information to evaluate, through price analysis, the reasonableness of the price of such services. In conducting this evaluation, the contracting officer shall ensure that the effects of inefficient or uneconomical past practices are not projected into the future. (c) Any contractor or subcontractor that is required to submit certified cost or pricing data also shall obtain and analyze certified cost or pricing data before awarding any subcontract, purchase order, or modification expected to exceed the certified cost or pricing data threshold, unless an exception in 15.403-1(b) applies to that action. (a) Purchase supplies and services from responsible sources at fair and reasonable prices. PART 1--FEDERAL ACQUISITION REGULATIONS SYSTEM There are also certain dollar thresholds that trigger specialised treatment or procedures under the FAR. Consent to subcontracts and review of contractors purchasing systems are separate actions covered in part 44. (2) All offers with separately priced line items or subline items shall be analyzed to determine if the prices are unbalanced. Such offsets need not be in the same cost groupings (e.g., material, direct labor, or indirect costs). Requiring certified cost or pricing data (10 U.S.C. Assume that the estimated productive life of the machine was 16,000 hours. (a) Certified cost or pricing data shall not be obtained for acquisitions at or below the simplified acquisition threshold. Phasos of the Services Acquisrt:ion Procoss 4 Reqmr.menls Oeflndlon 5. (v) Cost-control and other past accomplishments. A widely used method of measuring operating effectiveness Financial statements should be reviewed A. (1) Depending upon the extent and complexity of the field pricing review, results, including supporting rationale, may be reported directly to the contracting officer orally, in writing, or by any other method acceptable to the contracting officer. The truck is estimated to have a residual value of $4,000 and a useful life of 4 years and 120,000 miles. Conditions that may affect the agreements validity shall be reported promptly to the ACO. (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. Decision, or approval. 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. Lowest Price Technically Acceptable (LPTA) Target firm size is measured by market value of equity plus long-term debt and short-term debt, less cash and marketable securities at the last fiscal year prior to the acquisition. (b) Program should-cost review. What is the policy for providing for full and open competition? The purpose of this Policy is to establish the Department of Health and Human Services (HHS) Information Technology Acquisition Review (ITAR) Program. (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. Over $13.5 Million - $93 Million - Head of the Contracting Activity 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. accepting an unsolicited gift valued at $15, IMPORTANCE OF REQUIREMENTS DEFINITION PROCESS: The COR will be evaluating a contractor's performance using the ___, . When you feel like it C. Monthly D. When net income is negative C. Monthly Companies should recognize inventory as an expense when purchased. (vi) A fixed-price incentive contract for the acquisition of a commercial product or commercial service. Task Denition and Framework Assume a classier induction problem where each instance is represented with n independent . furnished property is available and accounted for CONTRACT AWARD: Depending upon the estimated dollar value of the acquisition:. The contracting officer shall, (1) Insert the clause at 52.215-12, Subcontractor Certified Cost or Pricing Data, in solicitations and contracts when the clause prescribed in paragraph (b) of this section is included; or. 4. true ETHICS PROCUREMENT PERSONNEL: You are a COR working on the third year of a 5-year contract (football tickets). In addition, the contracting officer should request data to determine the cost realism of competing offers or to evaluate competing approaches. (iii) Level of noncompetitive Government contracts. Operations & Maintenance - 1 year . (4) Subject to paragraphs (b)(5) and (6) of this subsection, the contracting officer shall allow an offset for any understated certified cost or pricing data submitted in support of price negotiations, up to the amount of the Governments claim for overstated pricing data arising out of the same pricing action (e.g., the initial pricing of the same contract or the pricing of the same change order). Contracting Officers SHALL promote and provide for full and open competition in soliciting offers and awarding Government contracts.

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