The US Government relies on contractor pricing proposals and cost representations to establish prices and/or reimburse actual costs. In this regard, the burden is on the buyer to demonstrate that prudent business actions have been taken to determine that the prices paid to suppliers are fair and reasonable in accordance with the Federal Acquisition Regulation (FAR) Subpart 15.4, Contract Pricing. In addition, FAR Part 31, Contract Cost Principles And Procedures, contains cost principles and procedures for the pricing of contracts, subcontracts, and modifications to contracts and subcontracts whenever cost analysis is performed. Consequently, it is also incumbent upon the analyst to ensure that proposed costs are in conformance with FAR Part 31. This course is designed to provide specific guidance in performing and documenting price analysis and cost analysis for goods and services acquired for US Government contracts and subcontracts. Students will benefit from attending either one day, two days, or all three days of this course, depending on the extent to which they utilize/need to understand price analysis and/or cost analysis.
Upon completion of this course, the participant should know the US Government’s requirements for conducting price analysis and cost analysis for US Government contracts & subcontracts, including:
- Regulatory requirements and expectations related to price analysis and cost analysis
- How and when to perform and document price analysis and cost analysis
- How and when to perform and incorporate technical analysis
- Documenting the results of price analysis and cost analysis
- Principles of direct and indirect cost identification, accumulation, distribution, and estimation
- Criteria regarding allowability/unallowability of the selected cost elements included in FAR Subpart 31.2
- Day 1: Price Analysis
- Day 2: Cost Analysis
- Day 3: Cost Principles
This course is designed to provide specific guidance in performing and documenting price analysis for commercial and non-commercial goods and services acquired for US Government contracts and subcontracts.
This course is designed to provide specific guidance in performing and documenting cost analysis for goods and services acquired for US Government contracts and subcontracts in those situations when Truthful Cost or Pricing Data (formerly know as Truth in Negotiations Act) applies, or when price analysis alone is insufficient to demonstrate the reasonableness of lower-tier suppliers’ prices.
This course is designed to provide specific guidance in understanding FAR Subpart 31.2 cost accounting expectations for segregation, accumulation, and distribution of direct and indirect costs, and the identification of selected costs as allowable or unallowable. To read more about the Cost Principles and register for just this one day session rather than the 3 day Trifecta class, please click here.
Ki Capitano is a Consultant with Capitano Consulting providing consultation, advice, assistance, and training on Government contract financial and other regulatory compliance matters. Ki began his career in Government contracting in 1976, working as a contract auditor for the Defense Contract Audit Agency (DCAA). While with the DCAA, he performed a full range of contract audits of Government contractors and contract audit functions. He worked as an instructor at DCAA’s contract audit institute in Memphis, TN designing, developing, and delivering training courses to DCAA auditors and managers in both technical and managerial subjects, as well as supporting briefings to industry and other Government agencies, and worked at DCAA headquarters as program manager, responsible for a variety of audit initiatives. Ki also worked for KPMG Peat Marwick as a manager responsible for designing, developing, and delivering training courses and providing expert advice to clients regarding Government contract regulatory compliance issues in a wide variety of areas.
Continuing Education Credits
5.5 CLE/0.55 CEU/ 6.5 CPE (Finance) credits may be earned for each day of this course. One day is recommended for 8 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.
This course can be submitted to Project Management Institute (PMI) for PDU. Upon their approval, it may be worth 5.5 PDU credits.