1. Contract Management Body of Knowledge Knowledge Area 1.2 Contract Principles

2. 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”

3. GAO “Best Practices” Project Knowledge Points Need Development Concept Development Preliminary Design Detailed Design Production, Deployment, Operation, Support 1 234 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

4. 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