BUS 319 Principles of Federal Acquisition Week 5 Discussion 1

Description

“Managing Contract Risk and Total Ownership Costs” Please respond to the following:

Per the text, Adams states that contractual risk assessment expands upon traditional Critical Path Methods (CPM) by developing realistic estimates of anticipated risks in the completion of a contract. From the e-Activity, analyze the overall manner in which the company used the risk assessment method and / or risk assessment matrix to meet their contract objective(s). Provide a rationale for your response.
Imagine that you own a small catering company. Your company is applying for a contract to cater a state congressional luncheon. Determine the three (3) most significant cost factors that you should take into account as the contractor. Provide a rationale for your response. stion. Provide a rationale to support your response. 

Week 5 E-Activity: Using the Internet or the Strayer Libraary, research one (1) industrial or commercial services company that has used risk assessment methods and/or risk assessment matrixes in the process of obtaining a government contract. Be prepared to discuss.

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Principles of Federal
Acquisition and Contract
Management
BUS 319
Total Ownership Costs
Topics
• Cost as an independent variable
• The life-cycle cost
• The design-to-cost
Cost as an Independent
Variable
• Objectives balance agency needs and
program requirements with fiscal
resources
• Cost becomes more of a constraint than a
variable
Life-Cycle Costs
• Estimation and analysis of total cost over
total expected life
• Two methods:
– Cost Estimating Relationship (CER)
– Engineered Cost Estimate
Design-to-cost
• Establishes cost elements as
management goals to achieve balance
• Cost is a design constraint and a
management discipline
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Summary
• Cost as an independent variable
• The life-cycle cost
• The design-to-cost
Principles of Federal
Acquisition and Contract
Management
BUS 319
Managing Contract Risk
Topics
•
•
•
•
Risk Management – General
Risk Management Process
Risk Rating
Risk Management Supporting PreAcquisition Source Selection Plan and the
Request for Proposal
Risk Management – General
• Types of contractor risks:
– Business risk
– Program risk
• Approaches to
risk management:
– Centralized
– Decentralized
• Numbering Systems
Numbering Systems
Risk Management Process
Planning
Risk
Assessment
Risk
Handling
Risk
Monitoring
Risk Rating
• Can be qualitative or quantitative
• Risk matrix
High Impact
Medium Impact
Low Impact
3
5
9
2
4
6
1
2
3
Low
Likelihood
Medium
Likelihood
High
Likelihood
Risk Rating, Continued
• Standard Risk Assessment Techniques:
–
–
–
–
–
–
–
–
–
Process Risk Assessment
Program Documentation Evaluation Risk Identification
Product (WBS) Risk Assessment
Threat/Requirements Risk Assessment
Cost Risk Assessment
Quantified Schedule Risk Assessment
Expert Interviews
Analog/Comparison/Learned Studies
Risk Prioritization/Aggregation Techniques
Risk Management Supporting Pre-Acquisition Source
Selection Plan and the Request for Proposal
Risk
Identification
Risk Tracking
Risk Mitigation
Plan
Implementation
Risk Analysis
Risk Mitigation
Planning
Summary
•
•
•
•
Risk Management – General
Risk Management Process
Risk Rating
Risk Management Supporting PreAcquisition Source Selection Plan and the
Request for Proposal

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