How do you determine the appropriate price for a contract? How does the government evaluate prices? How do contractors set prices? The answers to these questions form the core of this course. Contracting officers are required to award contracts at “fair and reasonable prices.” While this sounds clear, it presents an enormous challenge to contractors and government personnel. Contractors must establish and support their proposed prices in a manner that enables the government to make a determination of price reasonableness. And, from the other side, government personnel must exercise skill in price and cost analysis to support the contracting officer’s pricing decision. Mistakes in the process can be costly to all parties concerned.
This course offers you a comprehensive, practical approach to establishing and evaluating prices for government contracts. You’ll receive thoroughly up-to-date coverage of The Federal Acquisition Streamlining Act of 1994 and the Clinger-Cohen Act on key pricing issues. Plus, you’ll learn about updates to the Truth in Negotiations Act and the Federal Acquisition Regulation (FAR) cost principles and about the unique challenges you face when pricing commercial items.
Please bring a calculator to class.