Cost realism analysis is the process of independently reviewing and evaluating specific elements of each offeror’s proposed cost estimate to determine whether the estimated proposed cost elements
Cost realism analysis is performed on cost-reimbursement contracts to determine the probable cost of performance for each offeror. Cost (price) realism may also be performed on competitive fixed-price incentive contracts or other competitive fixed-price-type contracts. As a US Government acquisition official, it is important that your cost realism be performed and properly documented to demonstrate that the analysis is reasonably based and not arbitrary. Failure to do so can result in higher than expected costs, increased performance risk, and successful bid protest by an offeror not receiving the award. As an offeror, it is important that your technical proposals reflect a clear understanding of requirements, your cost proposal reflects the resources and methodology described in your proposed solution, and any realism issues expressed by proposal evaluators be appropriately addressed. This course melds cost and price analysis approaches with cost realism requirements, addressing both the differences and similarities of tools, method, and techniques along with numerous examples from actual GAO bid protest cases to understand “the Do’s and the Don’ts” for demonstrating that the determination of realistic probable cost is reasonably based and not arbitrary.
Upon completion of this course, the participant should know the US Government’s requirements for conducting cost analysis, price analysis, and cost realism analysis for US Government contracts, including:
Regulatory environment and background
Cost and price analysis quantitative methods
Direct material and subcontract costs
Direct labor costs
Other direct costs
Indirect rates and factors
Fixed price contracts
11 CLE/ 13 CPE (Finance) credits may be earned for this course. This course is recommended for 16 CLP credits.
This course has been approved for CLE in CA, PA, VA and TX. Because this activity has been approved in another CLE jurisdiction, you may also receive credit for participation in AK, AZ, AR, CO, FL, HI, IL, ME, MT, NJ, NY, ND, and WI (additional state requirements may apply). If you are seeking CLE credits for a jurisdiction other than the ones listed above, please contact us for additional information.
course can be submitted to Project Management Institute (PMI) for PDU.
Upon their approval, it may be worth 11 PDU credits.
Wednesday, April 5, 2017 - Thursday, April 6, 2017 9:00 AM - 4:00 PM
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