What is it
Total Number of Credits = 16
Fields of Study
Accounting (Govmnt) 3.0
Business Mgmnt and Org 2.0
Management Adv Services 2.0
Specialized Knw and Apps 4.0
Speaker: Matthew McKelvey
Basic Price Proposal Workshop
Why is This Seminar Different?
This is a hands-on seminar in which participants will actually develop a response to a Government Request for Proposal (RFP). Hands-on means the participant will review a sample Time and Materials (T&M) RFP, develop T&M labor rates, apply indirect rates, discuss what will go in the narrative, and prepare the audit file. The final product of the course is a completed Government price model.
Most introductory seminars focus solely on the basic structural mechanics of building a price proposal, omitting discussions on important factors that are frequently encountered during the pricing process. This seminar goes beyond the basic pricing steps to give those new to government pricing a wider understanding of the entire proposal process as well as post award contract performance. Participants who complete the seminar will not only gain the knowledge needed to build basic price models, but also an understanding of some of the critical issues to consider beyond simply responding to the RFP.
Who Should Attend?
This course is designed for professionals from both commercial and government contracting sectors who are new to Federal contracts and pricing. This is an entry-level course. Attendees should have a basic understanding of excel. Individuals with previous experience should consider the Intermediate Cost Proposal Workshop.
Why Should You Attend?
Responding to a Government RFP requires a significant amount of time and resources. Even if your company has the best solution for the Government, simple mistakes in pricing a proposal can cost your company the win. Or your company could win the contract, but find after award that it is losing money because of mistakes made in the pricing response. Becoming an expert at responding to Government procurements takes many years. However, this course can give you the foundation to reduce the learning curve dramatically.
What to Bring/Prepare:
- A laptop with Office 2007 (or later).
- Before arriving at the course, become familiar with the following excel topics: (1) basic addition/subtraction formulas, (2) basic multiplication/division formulas, and (3) using cell references in formulas. To get more out of the class, it may be valuable to pick up a basic Excel book and work through the first 4 or 5 chapters.
The course follows a typical proposal from the moment the government puts out a Request for Proposal (RFP) to submission, and proceeds to discuss some additional topics after submission. At the completion of the course, participants will gain an understanding of the pricing process and the fundamental skills required to successfully price government proposals. Participants can expect to learn not only the basic procedures, but also some of the common pitfalls encountered during pricing of contracts.
The workshop will feature a series of lectures, each followed by individual reinforcement exercises. Participants will need to be familiar with Microsoft Word and Microsoft Excel.
Reading the RFP
- Section B
- Section C - Section H
- Section I - Section K
- Section L
- Section M
- Submitting Questions to the Government
- Summarizing the RFP for Management
Source Data Identification and Acquisition
- Satisfying RFP Labor Category Requirements
- Establishing Labor Rates
- Identifying Labor Hour Allocations
- Gathering Other Direct Costs (ODCs)
- Considering Other Rates and Factors
Basis of Estimates (BOE)
- Defining a BOE
- Identification of BOE Methodologies
- Selection of Appropriate Methodologies by Element
- Presentation of BOEs
Applying Indirect Rates
- Indirect Rate Discussion
- Actual, Provisional, Forward-Pricing, and Impacted Indirect Rates
- Labor Rate Buildup
- Common Issues Regarding Indirect Rates
- Building the Internal Model
- Writing the Narrative
- Finalizing the Government Model
- Quality Assurance Approaches
- Color Team Reviews
- Initial Risk Evaluation
- Basic Audit File Preparation
- Common Issues
Introduction to Advanced Topics
- Teaming (prime/ sub)
- Cost Type Contracts
- International Performance
- Indirect Rate Pool Strategies
- Items Considered "No Cost" to the Government
- Contractors vs. Employees
- Joint ventures
Cancellations & Rescheduling
Cancellation notification must be received one week prior to the course date. Upon notification, your registration fee will be refunded less a $100 non-refundable processing fee. Any cancellations beyond the one week period are non-refundable but you have the option of rescheduling. If you reschedule to attend another course, we will apply your prior payment toward your new registration fee. No refunds will be made for the cancellation of a rescheduled course. Personnel substitutions may be made at any time. Payment must be received prior to the course date. No-shows are liable for the full course fee.