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Contract Pricing and Price Analysis Fundamentals

Many federal contractors are wasting significant amounts of time and increasing audit risk and exposure by the improper use of price and cost analysis. Many contractors and Government oversight officials do not understand the true requirements contained in the Federal Acquisition Regulation (FAR) regarding the use of Price Analysis versus Cost Analysis. This results in significant time and expense preparing and justifying detailed cost estimates when the most basic price analysis tools and techniques, which require far less effort, are all that is required. This has been made even more challenging by clarifications made to the FAR in 2011 that actually encourage contracting officers to reach out and obtain cost details, even when they are not required.

These reference materials will examine the principle phases of price and cost analysis - from the initial contract solicitation to the final contract award. These materials will cover methods for identifying, considering and understanding whether the ultimate price will require either cost analysis or price analysis. These reference materials will also cover relevant costs, tools and techniques associated with price analysis, key elements associated with cost proposal requirements including documentation of direct labor, material and subcontracts and the associated cost analysis and cost realism analysis. This foundational knowledge can help companies to provide the appropriate levels of data to customers and demand appropriate levels from vendors and subcontracts. Not too much - but enough to adequately justify fair and reasonable prices as required by the FAR.

Learning Objectives

  • You will be able to review contract pricing in federal procurement.
  • You will be able to discuss pricing information and data requirements.
  • You will be able to describe price analysis.
  • You will be able to explain cost analysis.

Runtime: 84 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Contract Pricing in Federal Procurement

  • Objectives of Government Contract Pricing
  • Impact of Method of Contract Pricing
  • Maximizing Price Competition
  • Current Federal Trends

Pricing Information and Data Requirements

  • Certified Cost or Pricing Data
  • Exemptions From Certified Cost or Pricing Data
  • Data Other Than Certified Cost or Pricing Data
  • Impact on Oversight and Audit

Price Analysis

  • Definition
  • Impact of Competition and Negotiation
  • Primary and Secondary Price Related Factors
  • Documenting Price Analysis

Cost Analysis

  • Definition
  • Cost Estimates and FAR Table 15-2
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on June 12, 2012.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William R. Walter

William R. Walter

Dixon Hughes Goodman LLP

  • Partner in charge of Government Contractor Consulting Services for Dixon Hughes Goodman, LLP
  • Practice emphasizes all aspects of FAR and CAS Compliance with a focus on best practices to avoid “sacred cows” that drain company resources with no benefit to customer
  • Conducts regular seminars and workshops on Cost and Price Analysis, Cost Accounting Standards, Cost Allowability, Contractor Business Systems and other contracting topics
  • Writer of several articles on contract accounting issues
  • Member of the ABA Public Contract Law Section, Professional Services Council, National Defense Industrial Association, American Institute of CPAs, NCMA
  • B.S. degree in accounting, Penn State University
  • Can be contacted at 703-970-0509 or bill.walter@dhgllp.com
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Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 389435
Published 2012
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