Description
This five-day elective course, students will explore the mathematics required to calculate, negotiate, and understand the statistics, regression, and weighted guidelines behind a government cost proposal. Students will dive into the topics of cost estimating relationships (CERs), improvement curves, quantity variation, incentives, and weighted guidelines, as they navigate exercises geared towards specific lesson understanding; as well as two culminating case studies, that show the complexity of mathematics and pricing within government contracting.
Learning Objectives
- Determine market research and proposed information from offeror(s) using sampling data
- Understand how to use historical data and regression analysis in facilitating the decision-making process
- Successfully evaluate acquisition proposals, summarizing the development, assumptions, application, and risk of Cost Estimating Relationships (CERs)
- Master the use of estimating factors, government price objective, and price termination settlements
- Recognize how to use the improvement curve analysis to select the appropriate statistical information.
- Identify issues and factors to be considered in developing the government’s negotiation objective for a contract equitable adjustment when presented with a proposed contract change
- Analyze the associated cost risk given a point estimate (contract cost, ceiling price)
- Detail how to identify the appropriate incentive contract type arrangement
NCMA Competencies
A.1, A.2, B.1, B.2, B.5, B.6, C.3, 1.2, 1.3, 1.4, 1.5, 1.6, 2.0, 2.1, 3.1
Course ID
ICPA-EL
Length
5 Days
CLPs
40
Modality
In-Person
Virtual