At this year’s Government Contract Pricing Summit, there were over thirty-four breakout sessions, in addition to numerous general sessions from keynote speakers and panelists.
What follows is a summary of some of the aspects covered from a session led by Don Shannon - The Contract Coach, and Patrick Mathern – President, SpendLogic. The session was entitled, “Creating a Compliant Cost Proposal Volume” on Day 2 of the Summit:
The session discussed various aspects of a cost proposal, particularly focusing on important text about information protection, and key components that should be included. It highlighted the significance of a letter of transmittal, the authorized signatory on the proposal, acknowledgments of amendments, and representations and certifications.
One part of the session delved into the small business subcontracting plan, certificates of insurance, and corporate financial reports. It emphasized the importance of listing items and prices accurately and making appropriate assumptions to avoid conditional responses.
Another aspect of the cost volume that was covered emphasized the need for a generalized introduction, company bio, photos, and bios of officers, and a milestone schedule to provide an overview of the proposal's content.
To highlight some salient items covered:
The session also covered various topics related to estimating and pricing in the context of cost proposals. It included discussions about proprietary information, identifying business systems, different estimating techniques (top-down, bottom-up, and new models like G- ease AI), earned value requirements, creating an estimating plan, the cone of uncertainty, and the importance of providing data and explanations for pricing decisions.
A few points covered by the presenters included:
If you attended the 2023 GCP Summit, we’re confident you found sessions like this one to be valuable and thought provoking. If you weren’t able to attend this year, start planning to be part of the discussion at the 2024 GCP Summit in beautiful sunny San Diego, June 11-13, 2024!