Government Contracts: Bidding and Financial Management
MGMT X 408.65
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Students learn the fundamentals of U.S. government regulations that impact how bidders propose work, negotiate prices, and execute to contractual terms.
What you can learn.
- Define the relationship between a company’s cost structure and the rates and factors used to develop pricing
- Describe the U.S. Government policies and regulations thatgovern proposal pricing, rate evaluation, contract negotiation, and contract performance
- Distinguish the differences in the proposal preparation and evaluation process between a FAR Part 12 and FAR Part 15 procurement
- Evaluate a proposal’s major cost elements and use them to develop buyer’s negotiation position
- Describe the impact of contract type on proposal price
- Specify the requirements for “special” price proposals, including termination proposals, change proposals, and requests for equitable adjustment
About this course:
The U.S. government regulations and processes enable it to procure goods and services at "fair and reasonable" prices. For companies to successfully do business with the U.S. government, they must establish and maintain consistent financial structures to support cost/price proposals and execute their contracts pursuant to contractual terms. In general, the U.S. government has the rights to audit bidders' proposals and compliance with the requirements in certain types of acquisitions. Students learn the fundamentals about the U.S. government regulations that impact how bidders propose work, negotiate prices, and execute contractual terms. The course next focuses on how bidders develop cost proposals, audits, and price negotiations. The course examines how successful bidders undertake the financial management of the contract, which includes creating budgets, monitoring program progress, invoicing, and contract closeout.