CON 1300 Exam (Latest 2024/ 2025 Update) Guide with Verified Answers-100% Correct- Grade A

CON 1300 Exam (Latest 2024/ 2025 Update) Guide with Verified Answers-100% Correct- Grade A Q: Tradeoffs Include or are guided by Answer: 1.Characteristics of the tradeoff process; FAR 15.101-1 2.Permits tradeoffs among cost and price and non-cost factors 3.Allows Government to accept other than the lowest priced proposal 4.Awarding to higher priced proposal must merit the additional cost 5.Rationale for tradeoffs must be documented in the file Q: What is the definition of contract risk? Answer: "a measure of future uncertainties in achieving program goals and objectives within defined cost, schedule, and perfor- mance constraints." Q: What are the three key risk elements of a contract? Answer: 1.Cost 2.Schedule 3.Performance Q: and are two ways to mitigate risk. They are closely related and should be considered together. Answer: 1.Contract type 2.Contract pricing Q: is the risk that activities will take longer than expected, and is typically the result of poor planning or unforeseen circumstances. Answer: Schedule risk Q: is an escalation of project costs. It is the risk that the project will cost more than the budget allocated for it. Perhaps the most common project risk, cost risk is due to poor budget planning, inaccurate cost estimating, and scope creep. Answer: Cost risk Q: is the risk that the project will fail to produce results consistent with project specifications. Answer: Performance risk Q: Schedule Risk Mitigation by contract type: 1. Fixed Price contracts = contractor must perform and meet the . 2. Cost Reimbursement contracts = contractor will perform their . Answer: ery schedule 2."best effort" Q: Cost Realism Analysis is used to mitigate . Answer: Cost risk Q: Cost Risk Mitigation by contract type: 1. Cost-reimbursement contract types with Cost Realism analysis would be preferable when there is of risk to the contractor such as a contract 2. contract types would be preferable when there is a stable, well defined, or re-occurring requirement Answer: A high amount R&D Fixed Price Q: The objective of proposal analysis is to . The complexity and circum- stances of each acquisition should determine the level of detail of the analysis required. Answer: ensure that the final agreed-to price is fair and reasonable Q: The is responsible for evaluating the reasonableness of the offered prices. Answer: contracting officer Q: While the FAR does not define what constitutes a fair and reasonable price, it does establish specific steps we need to take in order to determine prices proposed as fair and reasonable. This process is called . Answer: "Proposal Analysis." Q: What are some proposal analysis techniques? (7 Total) Answer: 1.Price, 2.Cost, 3.Cost Realism, 4.Technical Analysis, 5.Unit Pricing 6.Unbalanced Pricing 7.Past Performance Q: Past performance is evaluated automatically for contracts above the SAP and under two parameters: 1. - No more than 3 years (6 if construction) 2. - The level of similarity to the end item or service. Answer: 1.Recent 2.Relevant Q: states that costs should be realistic for the work to be performed; reflects a clear understanding of the requirements; and is consistent with the unique methods of performance and materials described in the offeror's technical proposal. Answer: Cost Realism Analysis Q: What are the two main objectives of the KO when negotiating a contract?- Answer: 1.Result in reasonable risk to the contractor and the Government 2.Provide the contractor with the greatest incentive for efficient and economical performance Q: R&D contracts are primarily.