4 edition of Incentives in government contracting found in the catalog.
Incentives in government contracting
R. Preston McAfee
Includes bibliographical references (p. -164) and indexes.
|Statement||R. Preston McAfee and John McMillan.|
|Series||Ontario Economic Council research studies,, 33|
|Contributions||McMillan, John, 1951-|
|LC Classifications||HD3860 .M383 1988|
|The Physical Object|
|Pagination||viii, 168 p. :|
|Number of Pages||168|
|LC Control Number||89176906|
Download the Report Purchase a print version Traditional contracting is primarily transactional, rewarding contractors when deliveries are made or certain process milestones are met. Performance-Based Logistic (PBL) contracting seeks to base contractor incentives on ongoing performance measures to achieve reliability and cost savings. Key to the success of these arrangements are the incentives. In an outcomes-based contract, the contractor is incented to achieve the program’s outcomes in a timely and efficient manner, as this leads to earning contract incentives. When those contracts are up for re-bid, the incumbent contractor will be incented to pass on cost reductions to the government to help ensure they continue with the work.
This course is designed especially for non-financial managers, administrators, technical professionals, executives, legal counsel, and line and staff personnel who must understand the contract cost, accounting, and financial aspects of government contracting. Its purpose is to increase your overall effectiveness as a contract professional. The government earlier announced production linked incentives for large scale electronic goods makers for five years, to attract investments in mobile phone manufacturing and electronic component.
Office of Government Contracting & Business Development. January Government Contracting PART 2 – How the Government Buys. A Guide for Small Business – Supplemental Workbook. And finally, a fixed-price incentive contract is a contract that provides for adjusting profit and. a contractor, since other incentives cannot be used when contractor performance cannot be objectively measured. The amount of the award fee that is actually paid is determined by the government’s evaluation of the contractor’s performance based on criteria established in the contract. This determination is made unilaterally by the.
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Contractors must expend additional resources to earn incentives The government must value the above satisfactory performance to set aside resources to incentive the improved outcomes Cost to pursue incentive Value of improved outcomes The incentive must be larger than the cost to pursue to attract the interest of the contractor.
Incentive contracting typically involves a fixed price or cost reimbursement contract. Upon completion of the contract, the incentive payment will be calculated and paid.
A combination of the actual cost of completion and a sliding scale profit determine the incentive payment. The type of contract most commonly used in government conttacting is the fixed-price contract.
Cost-plus contracts are also often used. The theory developed in this study has shown that, in many circumstances, the government’s expected payment would be lower if incentive.
Incentives and penalty clauses in contracts can be used to encourage generators, contractors, haulers, processors, landfill operators and government agencies to reduce waste. Most contractors are incentivized through fair compensation for the services under a cost-plus contract where the contractor is paid for designated expenses plus a profit.
An Incentive Contracts (Federal Acquisition Regulation (FAR) Subpart ) is appropriate when a Firm-Fixed-Price (FFP) contract is not appropriate and the required supplies or services can be acquired at lower costs and relating the amount of profit or fee payable under the contract to the contractor’s performance.
Government Contracting Strategies for Winning, Growing and Profiting by J. Michael Steinacher is an excellent resource for learning how to navigate the complicated world of bidding for government contracts.
There is a ton of money to be made as a US Government contractor, but it is often a closed system limited to those big guys on the inside. (2) When objective criteria exist but the contracting officer determines that it is in the best interest of the Government also to incentivize subjective elements of performance, the most appropriate contract type is a multiple-incentive contract containing both objective incentives and subjective award-fee criteria (i.e., cost-plus-incentive.
One Government objective is to provide the contractor with whatever degree of cost responsibility and incentive that is consistent with the circumstances.
This necessitates an analysis of the procurement situation and an assessment of the uncertainties of contract performance and. Performance incentives have a long and interesting history in the Department of Defense (DoD). As a result of policy guidance, numerous contractswritten during the s and s based profit, in part, on objectively measured performance characteristics.
DEFINITION: (a) Method of contracting where the Government defines the results it is seeking, rather than the process by which those results are attained. Also included are the standards against which contractor performance will be measured, and positive and/or negative incentives.
Contractor's Guide to International Procurement Contractor's Guide to International Procurement. Declines in US federal spending force US government contractors to compete for fewer domestic opportunities and provide an additional incentive to look abroad.
A fixed-price incentive contract is a fixed-price contract that provides for adjusting profit and establishing the final contract price based on the contractor’s performance. The contract will state a target cost that may be adjusted based upon an incentive provision or formula in the contract.
Incentives in Government Contracting by R. Preston McAfee,available at Book Depository with free delivery worldwide. Based on their pathbreaking work in the application of principal-agent theory to questions of regulation, Laffont and Tirole develop a synthetic approach, with a particular, though not exclusive, focus on the regulation of natural monopolies such as military contractors, utility companies, and transportation authorities.
More then just a textbook, A Theory of Incentives in Procurement and. DOD has looked to incentive contracting as one of the ways it can promote desired acquisition outcomes, such as keeping costs low, delivering a product or service on time, or achieving certain technical results.
When structured correctly, incentive contracts can more closely align contractor motivations with the government ’s desired outcomes. Incentives in government contracting. [R Preston McAfee; John McMillan] Home. WorldCat Home About WorldCat Help.
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Find more information about: ISBN: Let r(X) denote any strictly monotone increasing S. Reichelstein and K. Oshand, Incentives in government contracts transformation of X with expected value R = f r(x) dF(x).
la, 61 Then any contract that is proper relative to E and x becomes proper relative to R and v(x) by substituting v(r) for v(E), r(x) for x, and the transformed critical. The contracting officer may use a firm-fixed-price contract in conjunction with an award-fee incentive (see ) and performance or delivery incentives (see and ) when the award fee or incentive is based solely on factors other than cost.
The contract type remains firm-fixed-price when used with these incentives. Government Grants. Learn about federal government grants, who qualifies, and how to get them. What is a grant from the federal government. A grant is one of the ways the government funds ideas and projects to provide public services and stimulate the economy.
Grants support critical recovery initiatives, innovative research, and many other. Negative incentives could include rework or re-performance of the services at no additional cost to the Government/Customer (in the case of a fixed price contract) or fee (in the case of a cost reimbursement type contract), a deduction for services not rendered, reduction in paid fee, etc.
With pro-bono technical assistance from the GPL, the city incorporated results-driven contracting strategies to reorient the roadway resurfacing contracts around a holistic set of goals, provide vendors with incentives to meet these goals, and increase the flow of performance data enabling the Department to course correct issues in real-time.Government Contracting Books Showing of 99 A Pocket Guide on How to Win Government Contracts (Kindle Edition) by.
Mark W. Mansfield (shelved 2 times as government-contracting) avg rating — 2 ratings — published Want to Read saving Want to Read.FAR Incentive Price Revision.
FAR Payments under Time and Material/Labor Hour Contracts. DFARSCloseout of Contract Files. DLAD (One Book), Contract Closeout, Chapter DLAMMOCAS Manual, Part 2, Chapter 4, Prime Contract Closeout Procedures. .