CON 1100V UNIT 2 QUESTIONS AND
ANSWERS VERIFIED 100%
5 Stages of the Contracting Life Cycle include: - ANSWER-1. Acquisition Planning
2. Solicitation
3. Evaluation
4. Award
5. Contract Administration
Acquisition Planning Stage involves: - ANSWER-1. Identifying acquisition team.
2. Conducting market research.
3. Understanding industry.
4. Describing agency needs.
5. Performing meaningful risk analysis.
6. Formulating contract strategy.
7. Preparing solicitation.
8. Publicizing (advertising) contract actions.
Award stage involves: - ANSWER-1. Awarding the contract.
2. Notifying industry & bidders/offerors.
3. Holding meaningful debriefs.
4. Addressing any post-award protests.
Awarding involves: - ANSWER-1. Evaluation
2. Negotiation
3. Award
4. Debriefs/Protests
Contract Administration involves: - ANSWER-1. Holding post-award conferences.
2. Managing contract changes while protesting the contract's integrity.
3. Issuing contract modifications.
4. Closing out the contract.
Contracting Officers are - ANSWER-people with the authority to enter into, administer,
and/or terminate contracts and make related determinations/findings.
Contracting Professionals serve as - ANSWER-overall business advisors to the
acquisition team, responsible for advising on the establishment of a feasible and
appropriate acquisition business strategy.
Contracting Specialists are - ANSWER-responsible for assisting the contracting officer
through every stage of contract development, from researching the acquisition
regulations to negotiating the terms, and prepping contract documents.
ANSWERS VERIFIED 100%
5 Stages of the Contracting Life Cycle include: - ANSWER-1. Acquisition Planning
2. Solicitation
3. Evaluation
4. Award
5. Contract Administration
Acquisition Planning Stage involves: - ANSWER-1. Identifying acquisition team.
2. Conducting market research.
3. Understanding industry.
4. Describing agency needs.
5. Performing meaningful risk analysis.
6. Formulating contract strategy.
7. Preparing solicitation.
8. Publicizing (advertising) contract actions.
Award stage involves: - ANSWER-1. Awarding the contract.
2. Notifying industry & bidders/offerors.
3. Holding meaningful debriefs.
4. Addressing any post-award protests.
Awarding involves: - ANSWER-1. Evaluation
2. Negotiation
3. Award
4. Debriefs/Protests
Contract Administration involves: - ANSWER-1. Holding post-award conferences.
2. Managing contract changes while protesting the contract's integrity.
3. Issuing contract modifications.
4. Closing out the contract.
Contracting Officers are - ANSWER-people with the authority to enter into, administer,
and/or terminate contracts and make related determinations/findings.
Contracting Professionals serve as - ANSWER-overall business advisors to the
acquisition team, responsible for advising on the establishment of a feasible and
appropriate acquisition business strategy.
Contracting Specialists are - ANSWER-responsible for assisting the contracting officer
through every stage of contract development, from researching the acquisition
regulations to negotiating the terms, and prepping contract documents.
