This two-day, elective course addresses one significant difference between Federal Government and private contracting, which is the widespread use of the cost-reimbursement contracts by the government. This type of contract permits the parties to undertake projects that involve substantial uncertainties. It also accords parties greater flexibility during the performance of the work than would be possible under price contracts. Additional contract administration may be required as a result of these contracts in the areas of auditing and negotiating the permission and allocation of costs, and vigilant oversight of contractor performance is required to ensure costs are judicious.
• Understand the purpose and the nature of cost reimbursable contracts
• Provide background into the development of a supportable cost estimate
• Examine and apply special administrative requirements for cost reimbursable contracts.
• Evaluate cost and pricing for contract modifications
• Know special cost considerations for pricing contract terminations