11 procurement & acquisition terms defined for government contractors, with plain-English explanations and answers to the questions contractors actually ask.
A source selection approach that weighs technical merit alongside price, allowing the government to award to a higher-priced offeror when its technical advantages are worth the additional cost.
The subset of proposals selected by the contracting officer for further consideration and discussions based on their technical ratings and price, from which the final award will be made.
A source selection method where the government awards to the lowest-priced offeror that meets all minimum technical requirements, regardless of quality differences above the threshold.
A type of statement of work that describes desired outcomes and performance standards rather than prescribing how the work must be done, giving contractors flexibility to propose their best approach.
The dollar threshold below which agencies may use simplified acquisition procedures rather than full and open competition requirements, currently set at $250,000.