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Dissertation/Thesis Abstract

Price Realism Analysis: An Examination of an Area Ripe for Reform
by Bernstein, Alexis J., LL.M., The George Washington University, 2012, 61; 1515255
Abstract (Summary)

The purpose of this thesis is to explore the confusion and misapplication of price realism analysis in evaluations of firm-fixed price contracts and to make recommendations to generate a more straightforward process. It undertakes an examination of the relevant regulations, case law, scholarly articles, and approach to realism analysis taken by the international procurement community in order to demonstrate that revisions to the current regulations are long overdue. The overarching message is that FAR Part 15 needs to be revised to clarify the purpose and process for performing a price realism analysis. Simple revisions to the FAR, including placing cost realism and price realism analysis in two different sections and explaining how price realism is different than price reasonableness, would clear up a great deal of confusion and would result in fewer sustained protests in this area. Furthermore, these revisions would provide the government with a valuable tool to ensure that only offerors who can perform for the price proposed are awarded firm-fixed price contracts. Price realism analysis enables the government to eliminate performance problems associated with offerors that cannot comply with the representations made in their proposals due to underbids.

Indexing (document details)
Advisor: Yukins, Christopher R.
School: The George Washington University
Department: Law
School Location: United States -- District of Columbia
Source: MAI 51/01M(E), Masters Abstracts International
Subjects: Law
Keywords: Government contracts
Publication Number: 1515255
ISBN: 978-1-267-49325-5
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