Contract Management Body of Knowledge Knowledge Area 1.2 Contract Principles

Fundamentals of Acquisition that all contract professionals must comprehend May be codified in as part of a larger contract framework Product or system “Life Cycle”

GAO “Best Practices” Project Knowledge Points Need Development Concept Development Preliminary Design Detailed Design Production, Deployment, Operation, Support Need Approval Approval for Preliminary Design Approval for Detailed Design Approval for Full Production Knowledge Point 1 Knowledge Point 2 Knowledge Point 3 Technologies, time, funding, and other resources match customer needs Design performs as expected Production meets cost, schedule and quality targets

Knowledge, Risk and Contract Type Cost Risk High Low Requirements Definition Poorly- defined Well Defined Production Stages Concept Studies & Basic Research Exploratory Develop Full-scale Deployment Follow-on Production Contract Type Various types of Cost Reimbursement CPFFCPIF, FFIF, or FFP FFP, FPIF, or FPEA