Con 3990 prep exam with 100% correct answers

What are the three contracting life cycle phases correct answersPre-award, Award, and Post-award Define the pre-award phase correct answersInvokes all work performed by both the buyer (Gov't or Prime Contractor) and seller (contractor or sub) in communicating the buyer's requirements and providing a solution to those requirements What typically starts before the contracting process? correct answersRequirement definition, budgeting/funding process, and acquisition planning. The pre-award phase consist of what two primary activities? correct answersDevelop Solicitation (for our purpose, this is done by the Gov't or the contractor) and develop offer (this is done by the contractor or sub) In planning the solicitation correct answersThe buying activity must assess the need and analyze the requirement as well make sure that contract outcomes will be measurable and properly incentivized. They buying activity must also verify availability of funds. Buying activities must also correct answersConduct market research to identify potential suppliers, evaluate if the requirement is achievable, and perform any pre-offer conferences or communication Market Research happens in what phases of contracting life cycle? correct answersIs a process continuous through out all phases of the contracting life cycle In planning the solicitation... correct answersBuying activities should analyze risk that can take the form of performing make or by decisions, conducting a supply or service determination, and understanding the required schedule or needs of the customer. Before finalizing the solicitation... correct answersThe contract manager will participate in choosing a contract type and contracting method, help determine applicable regulations, and assist in building an evaluation strategy for offers.