an Effective Contract Strategy
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, What is a contract strategy? - Answer: ***How you will execute the contract action considering your
customer's need.
Further Infromation:
Involves three major decisions:
1. Deciding the procurement method
2. Deciding the contract type
3. Deciding level of competition to use
Information to select effective strategy results from: - Answer: -market research
-acquisition planning
-defining/refining the requirement
Factors unique to your requirement - Answer: -urgency of the customer's need
-degree to which successful performance or delivery is mission critical
-level of government oversight needed during contract performance
Final element of developing a sound contract strategy is to identify: - Answer: -evaluation criteria help
to determine best value
-performance outcome measures promote successful performance
Contract Types - Answer:
What are the 2 broad categories of contract types? - Answer: a. Fixed Price
b. Cost Reimbursement