Frequently Asked Questions
When the government outsources a public work or service, typically the contract will involve the transfer of control and cash flow rights to a private firm in exchange for an investment of some kind in return.
Cost cutting: Outsourcing has been considered to be one of the most effective ways of cutting down on your total cost. You can choose to keep your budget in check by simply choosing the best companies to do the work.
Organizations hire management consulting companies because they want an outside eye when making decisions. Consultants bring new and innovative ideas. They have specialized skills that help solve problems and meet organizational goals.
Agile is a project management methodology that uses short development cycles called sprints to focus on continuous improvement in the development of a product or service.
Agile is a methodology that stresses the value of maximum flexibility. Originally developed for software engineering teams, Agile helps ensure that projects are completed in short, palpable steps with frequent interfacing with clients.
The National Contract Management Association (NCMA) is dedicated to the professional growth and educational advancement of procurement and acquisition personnel worldwide. They offer various contracting certifications.
The Certified Professional Contract Manager (CPCM), Certified Federal Contract Manager (CFCM), and Certified Commercial Contract Manager (CCCM) are certifications awarded to candidates who meet rigorous standards. These include experience, education, training, and knowledge. They are professional designations of distinction, and carry the respect of their peers in the profession.
A Certified Professional Contract Manager (CPCM) certification demonstrates that you have met NCMA’s highest standards for education, training, and experience, and have demonstrated your knowledge of the contract management competencies in the Contract Management Body of Knowledge. Additionally, it shows that you are knowledgeable about all facets of contract management, both within government and the commercial arenas.
The PMP certification is obtained by qualifying for, taking, and passing an exam. PMP certification shows a level of commitment to the profession and provides a common language that help managers communicate worldwide.
The PMI provides services including the development of standards, research, and education accreditation in project management.
The Federal Acquisition Regulation (FAR) is the principal set of rules in the Federal Acquisition Regulations System. The FAR System governs the process by which executive agencies of the United States federal government acquire goods and services by contract with appropriated funds.
Contract management software is a program used for storing and managing legal agreements such as contracts with vendors, agencies and licensing officials. An important purpose of contract management software is to streamline administrative tasks and reduce overhead by providing a single, unified view of each contract’s processes.