Pricing Strategies for Government Contracts is designed for government contractors who submit priced offers in response to government issued Invitation for Bids (IFBs), Requests for proposal (RFPs), or Requests for Quotations (RFQs).
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Speaker: John Edward Murphy, Author of "Guide to Contract Pricing: Cost and Price Analysis for Contractors, Subcontractors, and Government Agencies."
Date: Thursday, May 17, 2007 and Thursday, June 21, 2007
Time: 9:00 am to 4:30 pm
Location: The Federal Sales Academy, Bethesda, Maryland
This seminar will facilitate your ability to:
- Understand how prices are established in the market place.
- Establish, negotiate, and evaluating prices for products, services and commodities.
- Apply techniques used by both buyers and sellers to propose evaluate a “fair and reasonable” price.
- Understand the distinction between a “market-based price” and a “cost-based price;” and know when each applies.
- Prepare cost estimates for proposed contracts that will provided your marketing force with current, complete, and accurate data throughout price negotiations.
- Identify sources of market intelligence for contract pricing.
Course Outline:
Introduction to pricing
Market intelligence
Pricing in specific markets
- Public sector
- Private sector
- Consumer goods and services
How "fair and reasonable prices" prices are established
Market-based price
- Competitive offers
- Established catalog prices
- Established market prices
- Prices established by law or regulation
Cost-based price
- Buyer must obtain information on composition of proposed price (cost plus profit) that will serve as a basis for price negotiations.
Determining "fair and reasonable prices." Case illustration.
Retrospective or prospective pricing.
Types of pricing arrangements
- Fixed price or lump sum contracts
- Unit-price contracts
- Cost-reimbursement contracts
- Incentive contracts
- Time and material contracts
- Labor hour contracts
- Task order contracts
- Indefinite delivery contracts
- Indefinite quantity contracts
How Much Detail (material, labor, overhead, and profit) of the Price Should the Seller Disclose to the Buyer or Customer?
How Your Proposed Price is Evaluated by the Buyer or Customer?
- Price analysis
- Cost analysis
- Cost realism analysis
- Will cost vs. should cost
Proposing or Negotiating a Price to Win a Contract Award.
- Is our proposed cost too high to win?
- Is our proposed overhead too high to win? Is there a “winning” overhead rate?
- What’s the appropriate profit margin for this job?
- Should we bid and expect a loss?
Cost Estimating and Cost Accounting --- Working together to facilitate sales and marketing
Cost-volume-profit (“break-even”) analysis.
Questions and answers
- $500 per person.
- At your company (call 888-661-4094 x18 for quote.)
"Pricing Strategies for Government Contracts" covers everything you need to know about government pricing rules and regulations. You will be taken through all the steps involved in determining a "fair and reasonable" price.
The course will begin at 9:00 am and usually runs until around 4:30 pm depending on class size and participation levels.
Breakfast and Lunch are included
Cancellations
Cancellation notification must be received one week prior to the seminar 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. You may reschedule at anytime; if you reschedule to attend another seminar, we will apply your payment toward your new registration fee. Personnel substitutions may be made at any time. Payment must be received prior to the seminar date. No-shows are liable for the full seminar fee.
