Con 3990 prep exam study questions and answers with complete verified solutions 2024

What are the three contracting life cycle phases - Pre-award, Award, and Post-award Define the pre-award phase - Invokes 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? - Requirement definition, budgeting/funding process, and acquisition planning. The pre-award phase consist of what two primary activities? - Develop 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 - The 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 - Conduct 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? - Is a process continuous through out all phases of the contracting life cycle In planning the solicitation... - Buying 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... - The 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. In response to a solicitation... - The seller will submit an offer The sellers offer should include - The offer must've line with the offerers overall sales plan and overall risk category. determining which parts of the contract performance the offer will need assistance from partners, subcontractors, or vendors. Communicate with the buying activity to make sure all information has been provided What is the award phase? - The second contract life cycle phase is award. The word phase involves all work performed by both the buyer and seller that produces an award contract. What is one activity in the ward phase? - Form the contract When the government receives offers they must analyze proposals for what? - In terms of risk, review for price of reasonableness, and document the results of the analysis. Based on the analysis of proposal, to plan for negotiations the government may ask for? - Clarification from offers and then develop negotiation objectives. The offer will respond to the request for clarification and prepare for negotiations as well. True or false; the buyer and seller may exchange ideas or have discussions, they may be informal or highly structured as needed during the award phase - True After reviewing proposals and analyzing the proposals and having exchanges with the sellers, the buyer will then? - Select a source What is the third contract life cycle phase? - Post award phase What are the two primary elements of the post ward phase? - Perform contract and Close Contract What is involved in the post award phase? - Involves all the work performed by both the buyer and seller during contract performance, to include changes to the contract, contract close out, and sometimes termination of a contract. What happens during post award phase activity perform the contract? - During this phase, we are monitoring risk in assessing its impact on contract performance ensuring compliance with one contractual terms and conditions and two contract technical requirements during contract performance up to contract close out or termination True or False: Both the buyer and seller must administer the contract? - True What is an important focus during post-award contract administration? - Quality of contract performance What is included in quality of contract performance? - This quality includes schedules, cost, and successful delivery of services or items. Who is responsible for quality? - The seller has the responsibility for quality, however the buyer must have proper oversight to protect the interest of stake holders Most sellers have a supply chain of support for their contract performance, they are know as? - Sub contractors