A risk management model for the Federal Acquisition Process/James P. Ross.
Ross, James P.
Nissen, Mark E.
Smith, David A.
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The Federal Acquisition Process is the process used by the Federal Government to purchase needed goods and services. The process consists of the presolicitation phase, solicitation-award phase, and the post-award administration phase. The Government Contracting Officer (CO) is responsible for conducting 78 key tasks within the acquisition process. Each task is laden with many potential risks such as a risk of overrunning costs, possible delivery and schedule delays, receiving a product of poor quality, problems with the selected contractor, disputes, and protests. This thesis investigates risk management in the acquisition process. This research explains the Federal Acquisition Process and each of the 78 tasks to be completed by the CO, and examines the concepts of risk and risk management. This research culminates in the development of a model that identifies prevalent risks in the acquisition process, lists corresponding consequences, and recommends applicable risk treatments. A questionnaire of knowledgeable, experienced contracting professionals is used to gather opinions, ideas, and practical applications of risk management in the acquisition process, and refine the model. This thesis concludes with recommendations for effective risk management in the acquisition process.
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