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Leadership Vocabulary > 2.0 Pre-Award > Flashcards

2.0 Pre-Award Flashcards

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1
Q

The process by which efforts of all personnel responsible for an
acquisition are coordinated and integrated through a comprehensive plan for fulfilling the customer need in a timely manner at a reasonable cost; includes developing the overall strategy for managing the acquisition

A

Acquisition planning

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2
Q

The probability that some element of an acquisition process produces
an undesirable result with an adverse effect on system effectiveness, suitability cost, or availability for deployment

A

Acquisition risk

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3
Q

Sale in which property, services, or merchandise are sold to the highest bidder

A

Auction

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4
Q

Similar to a basic agreement, but may also include terms and
conditions intended to describe the types of goods and services that may be ordered in the future, to define pricing methods that will apply, or to define ordering or delivery procedures

A

Basic ordering agreement

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5
Q

General announcement of an agency’s research interests, including criteria for selecting proposals and soliciting the participation of all offerors capable of satisfying the agency’s needs

A

Broad agency announcement

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6
Q

This is in the pre-award life cycle phase of contract management
and it is in the “develop offer” domain. It is the process of the seller organizing pre-sales activities to develop customer relations and market strategy, and assessing competition

A

Business development

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7
Q

Commercial contract financing

A

May include:
* Obtaining loans and lines of credit from financial institutions
* Obtaining advance funding of accounts receivable or funding of purchase orders
from private firms
* Obtaining funds from venture capitalists
* Negotiating favorable payment clauses
* Commercial advance payments made before performance has begun.
* Commercial interim payments made after some work has been done
-Delivery payments made after receiving and accepting a portion of the total work to be performed

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8
Q

A specific pricing arrangement, or combination of pricing arrangements, employed for the performance of work under the contract

A

Contract type

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9
Q

A royalty-free, nonexclusive, and irrevocable license to reproduce, translate, publish, use, and dispose of written or recorded material, and to authorize others to do so

A

Copyright

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10
Q

A cost-reimbursement contract that provides no fee.

A

Cost contract

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11
Q

A cost-reimbursement type contract that provides for the payment
of a fixed fee to the contractor. The fee does not vary with actual costs, but may be adjusted as a result of any subsequent changes in the work or services to be performed
under the contract.

A

Cost-plus-fixed-fee

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12
Q

A cost-reimbursement type of contract with a
provision for a fee that is adjusted by a formula in accordance with the relationship between total allowable costs and target costs

A

Cost-plus-incentive-fee contract

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13
Q

A type of contract that provides for payment of allowable incurred
costs, to the extent prescribed in the contract. These contracts establish an estimate of total cost for the purpose of obligating funds and establishing a ceiling that the seller may not exceed (except at its own risk) without the approval of the buyer.

A

Cost reimbursement

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14
Q

An explicit arrangement under which the seller bears some of the
burden of reasonable, allocable, and allowable contract cost. A cost-sharing contract is a cost-reimbursement contract in which the seller receives no fee and is reimbursed only for an agreed-upon portion of its allowable costs.

A

Cost sharing contract

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15
Q

An explanation given by buyer personnel to an offeror detailing the
reasons its offer was unsuccessful. At a minimum, the debriefing information shall include:
* The buyer’s evaluation of the significant weaknesses or deficiencies in the offeror’s proposal, if applicable. The overall evaluated cost or price (including unit prices) and technical rating, if applicable, of the successful offeror and the debriefed offeror, and past performance information on the debriefed offeror* The overall ranking of all offerors, when any ranking was developed by the agency during the source selection
* A summary of the rationale for award
* For acquisitions of commercial items, the make and model of the item to be delivered by the successful offeror
* Reasonable responses to relevant questions about whether source selection procedures contained in the solicitation, applicable regulations, and other applicable authorities were followed

A

Debrief(ing)

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16
Q

A concept that establishes cost elements as management goals to
achieve the best balance between life cycle cost, acceptable performance, and schedule; under this concept, cost is a design constraint during the design and development phases and a management discipline throughout the acquisition and
operation of the system or equipment.

A

Design-to-cost

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17
Q

Negotiations conducted in a competitive acquisition, after establishment of the competitive range

A

Discussions

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18
Q

Refers to a group of automated processes that can
be used to accomplish business transactions using the Internet

A

Electronic commerce (e-commerce)

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19
Q

Market research consisting of looking for useful information
about capabilities and limitations in the commercial marketplace in order to find information that can help determine the best method to obtain required goods and services consistent with pertinent laws, regulations, industry standards, and/ or organizational policies

A

External market research

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20
Q

Directed and managed by the General Services
Administration, provides federal agencies with a simplified process for obtaining commonly used supplies and services at prices associated with volume buying. There are four types of Federal Supply Schedules:
* Single Award,
* Multiple Award,
* New Item Introductory
* Internationa

A

Federal Supply Schedules (FSS)

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21
Q

A form of pricing that includes a ceiling beyond which the buyer bears no responsibility for payment.

A

Fixed price

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22
Q

A contract that provides for a price that is not subject to any
adjustment by reason of costs experienced by the seller in the performance of the contract

A

Firm fixed price contract

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23
Q

A type of contract that provides for adjusting profit and
establishing the final contract price by application of a formula based on the relationship of total final negotiated cost to total target cost. The final price is subject to a price ceiling, negotiated at the outset

A

Fixed price incentive contract

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24
Q

Specifies a target cost, target profit, price ceiling (but not a profit ceiling or floor), and a profit adjustment formula. These elements are all negotiated at the outset.

A

Fixed-price-incentive (firm target) contract (FPIF)

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25
Q

Fixed-price-incentive (successive target) contract (FPIS)

A

Fixed-price-incentive (successive target) contract (FPIS)

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26
Q

A fixed-price contract that permits an element of cost to fluctuate to reflect current market prices.; economic price adjustments may be based on established prices, actual costs of labor or material, or
cost indexes of labor or material.

A

Fixed price with economic price adjustment

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27
Q

A contract that provides for a firm-fixed-price
for an initial period of contract deliveries or performance and prospective redetermination (at a stated time or times during performance) of the price for subsequent periods of performance

A

Fixed price redeterminable prospective

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28
Q

Provides for a fixed ceiling price and a retroactive price determination within the ceiling after completion of the contract

A

Fixed price redeterminable retroactive

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29
Q

A contract suitable for investigation or study in a specific
research and development area; the product of the contract is usually a report showing the results achieved through application of the required level of effort, however, payment is based on the effort expended rather than on the results achieved.

A

Firm fixed price level of effort

30
Q

Establishes a fixed price (including normal profit) for the effort; this price will be paid for satisfactory contract performance, and award fee earned (if any) will be paid in addition to that fixed-price

A

Fixed price with award fee contract

31
Q

A method of making progress payments used by the
Department of Defense for certain negotiated contracts performed in the United States; tailors the progress payment rate to more closely match the contractor’s cash needs for financing contract performance

A

Flexible progress payments

32
Q

A contract that is definitive in all respects except
pricing. The agreement or contract specifies a predetermined index, formula, or algorithm (i.e., the “framework”) for the calculation of price at the point of sale

A

Framework pricing arrangement

33
Q

Sources of pertinent information that may be used to fill in missing areas when a contract fails to adequately address an issue

A

Gap fillers:

34
Q

Completing a government contract with thegovernment’s assistance in some form of contract financing; in federal governmentcontracting, when a contractor requests financing, the contracting officer is to consider
the following order of preference for methods of contract financing:
a. Private financing,
b. Customary contract financing other than loan guarantees,
c. Loan guarantees,
d. Unusual contract financing, and
e. Advance payments.

A

Government contract financing

35
Q

Opportunities for the buyer to present upcoming requirements to several sellers at one time; can provide a networking environment with other sellers to help determine future teaming opportunities.

A

Industry day

36
Q

Includes inventions, trademarks, patents, industrial designs,
copyrights, and technical information including software, data designs, technical know-how, manufacturing information and know-how, techniques, technical data packages, manufacturing data packages, and trade secrets

A

Intellectual property

37
Q

Market research consists of examining the buyer’s own
organization with the primary goal of learning as much as possible about the organization, how it does business, and how it has used goods and services acquired in the past

A

Internal market research

38
Q

The method of solicitation for the sealed bid process. The IFB
must describe the requirements of the buyer clearly, accurately, and completely. Unnecessarily restrictive specifications or requirements that might unduly limit the number of bidders are prohibited. The IFB includes all documents (whether attached or incorporated by reference) furnished by prospective bidders for the purpose of bidding.

A

Invitation for bids (IFB)

39
Q

A license permits the usage of software, patents, trademarks, or technology by another entity without transferring ownership rights. The sale of a license permits the use of patents, trademarks, or other technology to another entity

A

Licensing

40
Q

That part of a contractor’s written plan for the development or
production of an end item outlining the subsystems, major components, assemblies, subassemblies, and parts intended to be manufactured, test treated, or assembled by the seller (make) and those the seller intends to procure from another source (buy)

A

Make-or-buy program

41
Q

The process used for collecting and analyzing information about the
entire market available to satisfy the minimum agency needs to arrive at the most suitable approach to acquiring, distributing, and supporting supplies and services.

A

Market research

42
Q

A contracting approach under which the need for a system is
satisfied in successive acquisitions of interoperable increments. Each increment complies with common or commercially acceptable standards applicable to information technology so that the increments are compatible with the other increments of IT comprising the system.

A

Modular contracting

43
Q

A process between buyers and sellers seeking to reach mutual agreement on a matter of common concern through fact-finding, bargaining, and persuasion

A

Negotiation

44
Q

A legally binding document setting forth the conditions
under which proprietary information is offered and received between the parties

A

Nondisclosure agreement

45
Q

A legally binding promise, made by one party to another, to enter into a contractual agreement if the offer is accepted

A

Offer

46
Q

A government grant of exclusive rights to an inventor that prohibits others from making, using, or selling an invention

A

Patent

47
Q

A documented business arrangement in which the
buyer and seller agree to use a performance work statement, performance-based metrics, and a quality assurance surveillance plan to ensure contract requirements are met or exceeded.

A

Performance-based acquisition

48
Q

A buyer’s announcement of interest, including criteria for selecting
proposals, and selecting offerors capable of meeting the requirements

A

Prequalification

49
Q

A document used to obtain price, delivery, other market
information, or capabilities for planning purposes when the buyer does not presently intend to issue a solicitation; A formal invitation to submit general and/or specific information concerning the potential future purchase of goods and/or services.

A

Request for information

50
Q

A formal invitation that contains a scope of work and seeks
a formal response (proposal), describing both methodology and compensation, to form
the basis of a contract; Used in negotiated acquisitions to communicate buyer
requirements to prospective contractors and to solicit proposals. RFPs for competitive
acquisitions shall, at a minimum, describe the following:
* The buyer’s requirement
* The anticipated terms and conditions that will apply to the contract
* Information required to be in the offeror’s proposal.
* Factors and significant subfactors that will be used to evaluate the proposal and
their relative importance.

A

Request for proposal (RFP)

51
Q

A formal invitation to submit a price for goods and/or
services as specified

A

Request for quotations (RFQ)

52
Q

A single buyer of a single item (or lot of items) receives decreasing
offers from prospective sellers. The auction ends at a predetermined time, and the item is purchased from the lowest offeror for the lowest offer price.

A

Reverse auction

53
Q

Any costs or charges in the nature of royalties, license fees, patent or license amortization costs, or the like that are paid for the use of or for rights in patents and patent applications in connection with performing a contract or subcontract.

A

Royalties

54
Q

Business arrangement in which all elements of the transaction, including mutual assent, exchange of consideration, capacity to contract, and legal purpose, are determined and defined between the parties at the time of contract formation.

A

Sales contract

55
Q

Procurement by obtaining sealed bids and awarding the contract to the
lowest-priced responsible bidder whose bid is responsive.

A

Sealed bidding

56
Q

A contract that directly engages the time and effort of a seller whose
primary purpose is to perform an identifiable task rather than furnish an end item of supply.

A

Service contract

57
Q

Requires contractors and subcontractors performing
services on covered federal or District of Columbia contracts in excess of $2,500 to pay service employees in various classes no less than the monetary wage rates and to furnish fringe benefits found prevailing in the locality or in a collective bargaining agreement

A

Service Contract Labor Standards

58
Q

The same as a trademark except that it identifies and distinguishes the
source of a service rather than a product

A

Service mark

59
Q

A kind or class of procurement reserved for contenders that fit a certain category (e.g., business size, region, minority status). Can be total or partial, or a class set-aside (whereby a class of acquisitions of selected products or services may be set aside for exclusive participation by small business concerns). Includes:
* Service-Disabled Veteran-Owned Small Business
* Small Disadvantaged Business
* HUBZone Small Business
* Woman-Owned Small Business (WOSB)
* Veteran-Owned Small Business
* 8(a) Contractor
* Indian Incentive Program
* Disaster or Emergency Assistance Activities

A

Set-aside

60
Q

The right of an employer to use, without payment of royalties, an invention conceived by an employee in the course of employment or through the use of the employer’s facilities if the employee was not hired to perform such work.

A

Shop rights

61
Q

An estimate of what an item or system should cost based upon an
evaluation by independent reviewers of all applicable seller business methods (contrasting more efficient methods with present seller methods)

A

Should-cost

62
Q

A less rigorous method for entering into relatively low-dollarthreshold contracts; usually occurs without the elaborate and formal solicitation techniques required by sealed bidding and negotiation

A

Simplified acquisition

63
Q

Negotiation with a single provider, because either the provider is the sole seller of the product or service, or the relationship with the provider is of strategic importance based on long-term relationships and built on mutual trust

A

Single-source negotiation / Sole-source negotiation

64
Q

A business that is independently owned and operated, and is
not dominant in its field; a business concern meeting buyer size standards for its particular industry type

A

Small business concern

65
Q

Financing programs offered by federal, state, and local governments to help small businesses start and grow their operations; these programs include low-interest loans, venture capital, and scientific and economic development grants

A

Small business financing

66
Q

Any request to submit offers or quotations to the buyer

A

Solicitation

67
Q

That portion of a contract describing the actual work to be done by
means of specifications or other minimum requirements, quantities, performance date, and a statement of the requisite quality. The SOW for the project should reflect all work to be performed. The SOW communicates the work scope requirements for a program
and should define the requirements to the fullest extent practicable. It is a basic element of control used in the processes of work assignment and establishment of program schedules and budgets.

A

Statement of Work

68
Q

Those documents, drawings, reports, manuals, revisions,
technical orders, or other submissions as set forth as a contract data requirements list line item to be delivered as required by contract.

A

Technical Data Package

69
Q

All language in a contract, including time of delivery, packing and
shipping, applicable standard clauses, and special provision

A

Terms and conditions

70
Q

A type of contract providing for a fixed hourly rate,
including overhead and profit and material at cost plus handling charges; used when it is impossible to estimate schedule and costs at the time of contract award.

A

Time-and-Materials contract

71
Q

A formula, process, device, or other business information that is kept
confidential to maintain an advantage over competitors.

A

Trade secret

72
Q

A word, name, symbol, or device that is used in trade with goods to indicate the source of the goods and to distinguish them from the goods of others.

A

Trademark

Leadership Vocabulary (6 decks)

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