What does the government acquisition process begin with?

What does the government acquisition process begin with?

Essentially, the federal acquisition process begins when an agency determines its requirements and how to purchase them. Following the deadline for companies to submit their offers, agency personnel evaluate offerors’ submissions, using the source selection method and criteria described in the solicitation.

What is contracting and acquisition?

The Bachelor of Arts in Government Contracting and Acquisition provides a foundation of government contracting components, federal procurement processes, and contract management by taking advantage of the Contract Management Body of Knowledge (CMBOK).

Who does the Federal Acquisition Regulations apply to?

executive agencies
The Federal Acquisition Regulation (FAR) is the primary regulation for use by all executive agencies in their acquisition of supplies and services with appropriated funds. The FAR also contains standard solicitation provisions and contract clauses and the various agency FAR supplements.

What is the government simplified acquisition threshold?

What is the simplified acquisition threshold? Because source selection is less arduous under simplified acquisition, the dollar value of contracts allowable under simplified acquisition theoretically is capped at $250,000 (per Section 805 of the FY18 National Defense Authorization Act).

What is the current DOD simplified acquisition threshold?

The threshold is $15,000 for acquisitions by or for the Department of Defense as described in 13.201(g)(1)(ii) (Pub.

How does government procurement work?

Government procurement is the process by which the government acquires the goods and services it needs by purchasing from commercial businesses. Once a business is connected through this agency, it will find the process of selling to smaller entities, like state and local government agencies, much easier.

What types of things does the government acquire through the use of procurement contracts?

The processes of government procurement in the United States enable federal, state and local government bodies in the United States to acquire goods, services (including construction), and interests in real property. In fiscal year 2019, the US Federal Government spent $597bn on contracts.

What is acquisition training?

The course is designed for contracting professionals — including both government officials and contractors — who are interested in learning the details of the federal acquisition process. This course provides vital instruction for Government contracting personnel as well as important insights for contractors.

Is government contracting worth it?

Government contracting can be a way to start a small business. The market is worth over $100 billion in sales to small businesses each year. Reoccurring monthly business generated from government contracts can also hedge against months that are slow. In fact, many contracts have 3-5 consecutive year contract terms.

Is the Federal Acquisition Regulation a law?

The Federal Acquisition Regulation (FAR) is the principal set of rules regarding Government procurement in the United States, and is codified at Chapter 1 of Title 48 of the Code of Federal Regulations, 48 CFR 1.

Which acquisition team member has the authority to obligate taxpayer dollars on behalf of the government?

Congress has given authority to specific individuals, referred to as head of the contracting activity, to obligate taxpayer dollars in commercial transactions and all contracting matters. HCAs are usually general officers or senior executive service employees.