Before discussing the types of audits, we present the different types of contracts so that you can understand why some contracts have more comprehensive audits than others. There are three main types of contracts you may encounter: (1) fixed price; (2) reimbursement of expenses; and (3) time and material. There are different levels of risk to government that are related to each of them. As the level of risk to the government increases, its need to control and verify the contractor`s systems increases as it strives to reduce that risk. Defense Contract Management Agency (DCMA). As the name suggests, this organization manages government contractors on a geographical site. As a general rule, the DCMA supervises the contract on behalf of the Procuring or the Programme Contracting Officer (PCO) after the award of a contract. Almost all of the activities found in FAR 42.302 after the award of the contract are carried out either by the DCMA or in close coordination with the PCO. At ReliAscent, the success of our customers and all public contractors of small businesses is a top priority. If you have any questions regarding DCAA, DCMA or FAR compliance or would like to discuss any of our accounting, contract management or outsourcing services, you can contact us at any time or visit our website. Georgia Tech`s Contracting Education Academy (The Academy) is a recognized provider of equivalency training for Defense Acquisition University (DAU) and offers continuing education for government procurement and contracting professionals, as well as for businessmen who work for public contractors or who follow opportunities in the design of federal contracts. The language of government, especially when divided into acronyms, is difficult, confusing and often requires a translator.
If you are a newly elected government official or someone trying to get a government contract, you should familiarize yourself with the acronyms of the alphabet soup and its meanings. If you know what each abbreviation stands for and how important each alphabet soup acronym is, you can determine what certifications you need to look for, make federal discussions and contracts more accessible, sell goods in the government sector, and let authorities know you`ve done your research. This is especially important when responding to a Request for Supply (RFP) or an Offer. SEWP was managed by NASA and was created in 1993 as an acronym for the phrase « Scientific and Engineering Workstation Procurement ». In 2007, ADVANCES IN IT and the addition of several services to the capabilities of the Governmentwide Acquisition Agreement (GWAC) necessitated a name change to Solutions for Enterprise-Wide Procurement. The accompanying figure contrasts the government`s risk by type of contract. You will find that fixed-price contracts represent the lowest risk to the government, as this type of contract imposes on the contractor any risk of honoring and performing at a price set in the contract. . . .