What is an independent government cost estimate?
An Independent Government Estimate (IGE) is an unbiased cost estimate based upon the specifications and without the influence of potential contractor’s marketing effort or input.
What is an independent government estimate clc222?
What is an Independent Government Estimate (IGE)? An independent detailed assessment developed by a government team member… A Statement Of Work should include the following: The work to be performed, location of work, period of performance, deliverable schedule, any special requirements.
How is Igce calculated?
The IGCE can be calculated using prior historical rates and information. The IGCE should include detailed breakdowns of estimates for material and travel. If/when applicable, the IGCE should include methodology used for estimating the level of effort required.
Which of the following is a cost estimating technique?
The four major analytical methods or cost estimation techniques used to develop cost estimates for acquisition programs are Analogy, Parametric (Statistical), Engineering (Bottoms Up), and Actual Costs.
What is the difference between sow and PWS?
A Statement of Work (SOW) is typically used when the task is well-known and can be described in specific terms. Statement of Objective (SOO) and Performance Work Statement (PWS) emphasize performance-based concepts such as desired service outcomes and performance standards.
Why is an Igce required?
The IGCE is a required evaluation tool in DISA source selections. As such its integrity is critical, and the PMO shall be responsible for ensuring that appropriate technical and cost and price analysts are involved in its development.
Is an Igce required?
Independent Government Cost Estimate (IGCE). The IGCE is a required evaluation tool in DISA source selections. As such its integrity is critical, and the PMO shall be responsible for ensuring that appropriate technical and cost and price analysts are involved in its development.
What are the three types of cost estimates?
The three types of cost estimates are design, bid, and control estimates. Design estimates are prepared in the project preliminaries which gives the order of magnitude of the project cost.
Does a PWS become part of the contract?
The Performance Work Statement (PWS) is a Statement of Work (SOW) for Performance-Based Acquisitions that clearly describes the performance objectives and standards that are expected of the contractor. When a contract is awarded, the PWS is legally binding between the contractor and the U.S. Government.
What are the three elements of a properly written performance requirements Summary PRS?
Purpose;
What are the two basic contract types?
b. There are two fundamental types of contracts: Fixed-price and cost-reimbursement. Performance risk is higher for the U.S. Government under a firm fixed-price contract, while cost-reimbursable contracts place a higher cost risk on the U.S. Government.
How long is a COR certificate good for?
two years
Certification Expiration FAC-COR Certificates expire after two years. To be recertified, appropriate refresher training must be completed and the FAC-COR certificate submitted to the Acquisition Services Directorate. It is imperative that sufficient time is provided to avoid any lapse in certification.
What are different types of cost estimates?
5 Types of Cost Estimates
- Factor estimating.
- Parametric estimating.
- Equipment factored estimating.
- Lang method.
- Hand method.
- Detailed estimating.
Which is the most accurate cost estimation method?
bottom-up estimating
Analytic. An analytic estimate (also called bottom-up estimating) is one of the most accurate cost estimation techniques—but it can also be time-intensive. Bottom-up estimating breaks the project down into smaller parts and then creates cost estimates for those variables.
What are the three main components of a cost estimate?
In spite of the many types of cost estimates used at different stages of a project, cost estimates can best be classified into three major categories according to their functions. A construction cost estimate serves one of the three basic functions: design, bid and control.
What is a Level 5 cost estimate?
Class 5 estimates are prepared for any number of strategic business planning purposes, such as but not limited to market studies, assessment of initial viability, evaluation of alternate schemes, project screening, project location studies, evaluation of resource needs and budgeting, long-range capital planning, etc.