What are some of the factors to consider when developing the independent cost estimate? This should include a cost breakdown of all cost factors required for a contractor to complete the performance work statement, including an estimate of technical staff labor categories, hours, and rates; direct material and supplies; subcontracting; consultant services; travel, indirect rates; and fee.
What makes the independent cost estimate independent? The key attribute of independent cost estimates is that they are prepared independently of the project proponent estimate. A documented cost estimate that has the express purpose of serving as an analytical tool to validate, cross check, or analyze estimates developed by proponents of a project.
What is independent cost estimate? An Independent Cost Estimates (ICE) is a Life-Cycle Cost Estimate (LCCE) that is conducted independently of the Program Management Office (PMO) or defense agency by an outside organization.
Who develops the independent government cost estimate? Officials at the departments in GAO’s review—Defense, Homeland Security, Health and Human Services, Education, Labor, and Housing and Urban Development—developed independent government cost estimates (IGCE) for 62 of the contracts GAO reviewed.
What are some of the factors to consider when developing the independent cost estimate? – Related Questions
How do you create an Igce?
Once in the system, you would look for the IGCE tool under Tools in the Acquisition Gateway toolbar. Once in the IGCE tool, you can select your Agency, Contracting Title and/or Project Title to create a header. And then, time to create your IGCE!
What is the independent government cost estimate Igce )?
The Independent Government Cost Estimate (IGCE ) is used to assist in the determination of the acquisition strategy, as well as an estimated cost for the proposed effort.
What is an independent government estimate IGE )?
The IGE is a cost estimate developed by the government technical activity, based on the requirements (Supplies, Performance Work Statement (PWS), Statement of Work (SOW), or other specifications), and without the influence of potential contractors’ (marketing) efforts.
What is the purpose of an Igce?
The Independent Government Cost Estimate (IGCE) has the primary function of providing the contracting officer with an unbiased, realistic cost estimate for what is being purchased.
What is Cost Analysis Requirements Description?
The Cost Analysis Requirements Description (CARD) is a complete, detailed description of a DoD program for use in preparing an ICE, POE, CCE, CCP, or other cost estimate, as required.
The foundation of a sound cost estimate is a well-defined program, and the CARD is used to articulate details about the program.
What is ice in procurement?
With this preliminary information you can then establish your Independent Cost Estimate (ICE), and decide if you have the funds to formally issue an Invitation for Bids.
Which is the least preferred contract type because it places the greatest risk on the government?
Time and materials or Labor hour contracts have the biggest risk to the government. There is no specific deliverable and the government may not get what they want.
What are the major sub categories of funding include?
There are three major types of funds. These types are governmental, proprietary, and fiduciary.
What is the difference between contracting by negotiation and sealed bidding?
Unlike sealed bidding, where price is determined at the time of bid opening, competitive negotiated procurements may provide an opportunity for a bidder to shift his position regarding price prior to award.
What is quality assurance surveillance plan?
The Quality Assurance Surveillance Plan (QASP) is the document government personnel use to assess contractor performance. The results of those inspections will then be used to document contractor performance. The QASP should be a “living” document and reviewed as performance warrants.
What contract type puts the full performance risk on the contractor?
firm-fixed-price contract
A firm-fixed-price contract provides for a price that is not subject to any adjustment on the basis of the contractor’s cost experience in performing the contract.
This contract type places upon the contractor maximum risk and full responsibility for all costs and resulting profit or loss.
What is CICA government contracting?
The CICA provides for full and open competition in the awarding of government contracts. The procedure includes sealed bidding and competitive proposals. CICA mandates that any contract expected to be greater than $25,000 must be advertised at least 15 days prior to bid solicitation.
What is cost reimbursement contract?
Contracts & Legal
What is ODC cost?
An ODC is a cost that can be identified specifically with a final cost objective that is not treated as either a direct material or direct labor cost. Examples of ODCs may include travel, special tooling and test equipment, computer services, consultant services, preservation, and packaging.
What are the streamlined method of acquisition?
Simplified Acquisition Procedures (SAP) are contracting methods designed to streamline the acquisition process and facilitate the procurement of goods and services. The results include less paperwork and lower costs for both the contractor and the Government.
What are the elements to the independent government estimate?
This means the estimate should include (1) the direct costs incident to the construction; (2) an allowance for indirect or overhead costs; and (3) an allowance for a reasonable amount of profit. Once the IGE is developed, CE and the CO ensure that the cost estimate is fully funded. 2. Types of Independent Estimates.
What are the three types of restrictions on funds?
Fiscal Law Constraints
