What is an offer? - answer A response to a solicitation that, if accepted, would bind the
offeror to perform the resultant contract.
What is included in a quote? - answer Specification, price
LPTA- be aware what goes on there? - answer Lowest price technically acceptable -
Ø Proposals are evaluated for acceptability but not ranked using the non-cost/price
factors
Ø Tradeoffs are not permitted
Ø Exchanges may occur in order to help make a proposal technically acceptable
Risk elements - answerCost, schedule, performance
What is proposal for proposal analysis? - answerFair and reasonable
What kind of contract is Cost reimbursable? - answersole source
Price analysis vs cost analysis - answerPrice analysis - firm-fixed and commercial items
Cast analysis -
o Required for cost-reimbursement contracts
o Required if TINA applies (over $2M)
o May also be used on competitive fixed-price incentive contracts
What is Price related factors? - answerHUB zone - Small business
Government Furnished Property (GFP): competitive fixed-price contracts, only!
Free-on-Board (FOB):
F.O.B. Destination - Contractor bears the expense of transporting, risk after arrival and
acceptance.
F.O.B. Origin - Government will pick up, risk prior to transit.
Buy American - The procurement must be intended for public use within the United
States
Price analysis- which price selected of normally wins - answerlowest price
When TINA applies, what kind analysis? - answerCost reimbursable
Direct vs indirect costs definitions - answero Direct - cost directly attributed to the item
being purchased; ex: labor hours of employees building the product being purchased on
contract
, o Indirect - not directly attributed to the cost of the item; ex: health insurance of
employees, admin costs such as salary of secretary or CEO
Cost realism analysis- can I alter contract cost or price? - answerYes, most probable
cost.
Can I use cost realism analysis for fixed price contract? - answerYes
Price Negotiation Memorandum (PNM)- used for - answer· Stand-alone document that
tells the whole story on how you made the award
· Documents the analysis that the final price is fair & reasonable
· Clear, complete, concise, & professional
Elements of a PNM - answerTechnical;
Material;
Labor;
Other Direct Costs;
General & Administrative Expenses (G&A);
Fee or Profit;
Facilities Capital Cost of Money (FCCM);
Total Estimated Cost;
Certified Cost and Data (if used);
Identify Risks associated with each element.
When used Clarifications? - answerPre-award
What are clarifications? - answerClarifications are limited exchanges, between the
Government and offerors, that may occur when award without discussions is
contemplated.
Objectives to negotiation - answerGov: best value (product quality and timely delivery,
fair and reasonable price);
Company: base on goals and operations
Ture/False: Bargaining is a form of negotiation, Sitting down and trading things back
and forth. - answerTure
Parts of proposal - answertechnical, price, past performance
Purpose of technical evaluation for screening offers? - answerResponsive and non-
responsive
· Identify offerors that clearly do not meet the minimum technical requirements, call non-
responsive. The Government shall not accept proposals from non-responsible offerors;
Identify deficiencies and problems; or might be corrected with discussions.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.