Contract Performance Research Paper Example | Topics and Well Written Essays - 1250 words

Contract Performance - Research Paper Example The Federal acquisition Regulation provides federal agencies with different means of considering firms’ past performance and prior experience with regards to how well these firms have performed in similar work. Federal Acquisition Regulation The Federal Regulations Requirement sets particular regulations with respect to solicitation procedures, as well as conditions and terms of contracts performance of the firms offered the contract, procedures of terminating contracts and controlling cost (Cushman and Myers, 1999, p.1623). Federal agencies that offer contracts include U.S. Army Corps of Engineers (USACE), Public Buildings Service (PBS), and Customs and Border Protection (CBP). Contract awarding in these agencies are usually based on procurement decision by the respective departments. In this case, past contract performance data is mainly based on the above named agencies with respect to regulations, procedures, and policies applied in awarding contracts to firms. However, co ntract performance review results cannot be generalized to all federal agencies contract procurement with consideration top past performance and experience. Consideration of past performance and prior experience of firms by federal agencies is applied during three phases of awarding contracts. The three phases include preparing solicitations, responsibility determination, and proposal evaluation with regards to whether firms to be awarded contracts have the potential and capability to perform satisfactorily. In addition, Federal Acquisition Regulation provides a broad spectrum of decisions-making processes by federal agencies with respect to methods of acquisition, evaluation aspects, relative comparisons alongside past performance and prior experience. Nevertheless, contract performance consideration factors outweigh price factor among federal agencies when determining factors to consider in awarding contracts to firms. Federal agencies use negotiated procurements and sealed biddin g to award contracts to firms. Although sealed bidding focuses on lowest price bidder, it puts into consideration that all bidders have attained required performance standards and responsibility. Lowest-price technical selection process is used in awarding contracts that require a clearly defined technicality, where there are minimal chances of unsuccessful performance of the contracts. Negotiated procurements use one or more processes of source selection processes such as trade-off processes, which consider non-price aspects of evaluation. In contracts where development work is required, contract performance considerations can be achieved through best-value trade-off selection process when awarding the contracts. Decisions by federal agencies to award contracts to particular firms is based on factors of evaluation and sub factors that are of key significance and importance to contract performance consideration. The Federal Acquisition Regulation generally requires that every select ion decision-making process should evaluate costs of the contracts to the government alongside quality consideration factors of the service through putting into consideration non-cost evaluation aspects. According to FAR cost principles, the contractors should follow specific criteria such as billings, contract proposals, and claims submitted to the government. Cost accounting standards seek to provide governments with an opportunity