Types of Contracts

Management Concepts

How long?

  • 3 days
  • online, in person

Management Concepts

Disclaimer

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Full disclaimer.

Who should attend

This course is designed for contracting and COR personnel who require a more focused study of the contract types most frequently used in federal contracting, basic principles and limitations, and when they should be used.

About the course

What are the differences between a fixed-price contract and a cost-reimbursement contract? Between an incentive contract and an indefinite-delivery contract? There are many factors to consider when selecting an appropriate contract, and each has its advantages and disadvantages. You will learn the basics of a contract, contract types, and selection criteria. You will delve deeply into each contract category and understand the basic principles and limitations of each using FAR Part 16 as a guide.

Learning Objectives

  • Describe the contract types authorized by the Federal Acquisition Regulation (FAR)
  • Define conditions for their use
  • Select the appropriate type of contract for a particular acquisition

Course Topics

Introduction to Types of Contracts

  • Basic Elements of a Contract
  • General Classification of Contract Types
  • Factors in Selecting Contract Type
  • Effect of Requirements Document on Selection of Contract Type
  • Exercise: Preparing an Exhibit
  • Exercise: Meals for Firefighters

Fixed-Price Contracts

  • Cost Risk of Performance Under Fixed-Price Contracts
  • Firm-Fixed-Price Contract
  • Fixed-Price Contract with Economic Price Adjustment
  • Fixed-Price Contracts with Prospective Price Redetermination
  • Fixed-Price Contracts with Retroactive Price Redetermination
  • Firm-Fixed-Price Level-of-Effort Term Contracts
  • Exercise: Economic Price Adjustment Clause Case Study

Cost-Reimbursement Contracts

  • Use of the Cost-Reimbursement Contract
  • Cost Risk of Performance under Cost-Reimbursement Contracts
  • Cost Contracts
  • Cost-Sharing Contracts
  • Cost-Plus-Fixed-Fee Contracts
  • Clauses
  • Exercise: Minimum Guaranteed Quantities of Work Case Study

Incentive Contracts

  • Types of Incentives
  • Fixed-Price-Incentive Contracts
  • Cost-Plus-Incentive-Fee Contracts
  • Award Fee Contracts
  • Clauses
  • Award Term Contracts
  • Exercise: New Airborne Radar
  • Exercise: What Will the Government Pay?

Indefinite-Delivery Contracts

  • Definite-Quantity Contracts
  • Requirements Contracts
  • Indefinite-Quantity Contracts
  • Orders Under Indefinite-Delivery Contracts
  • Clauses
  • Governmentwide IDIQ Contracts
  • Case Studies and Exercise

Time-and-Materials, Labor-Hour, and Letter Contracts

  • Time-and-Materials Contracts
  • Labor-Hour Contracts
  • Letter Contracts
  • Exercise: Withholding Payment Case Study

Multi-Year and Option Contracts

  • Multi-Year Contracts
  • Options
  • Exercise: Option Items Case Study

Other Purchasing Arrangements

  • Basic Agreements
  • Basic Ordering Agreements
  • Blanket Purchase Agreements
  • Other Transactions

Types of Contracts at Management Concepts

From  $929

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

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