Acquisition Planning and Strategy Flashcards
6 cards from real NCMA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Acquisition Planning and Strategy flashcards as text
According to FAR Part 7, which of the following is a primary objective of acquisition planning?
Answer: To ensure the government meets its needs in the most effective, economical, and timely manner.
FAR 7.102(b) states that the purpose of acquisition planning is to ensure that the Government meets its needs in the most effective, economical, and timely manner. The other options are incorrect as planning promotes competition, relies on market research, and requires selecting the most appropriate contract type, not just one specific type.
A contracting officer is developing an acquisition plan for a complex IT service where the requirements are not well-defined and are expected to evolve. Which contract type would be most appropriate to consider in the acquisition strategy to accommodate this uncertainty?
Answer: Cost-Plus-Fixed-Fee (CPFF)
Cost-Reimbursement contracts, such as Cost-Plus-Fixed-Fee (CPFF), are suitable when uncertainties involved in contract performance do not permit costs to be estimated with sufficient accuracy to use any type of fixed-price contract. FFP is for well-defined requirements, T&M is for when it's not possible to estimate the extent or duration of the work, and while an IDIQ could be used, the core task orders would still need an appropriate contract type like CPFF to handle the uncertainty.
Which of the following elements must be addressed in a written acquisition plan, as stipulated by FAR 7.105?
Answer: Risks, contract type selection, and a statement of need.
FAR 7.105, 'Contents of written acquisition plans,' explicitly requires the plan to address technical, business, management, and other significant considerations. This includes a statement of need, cost, risks, and the contract type selection rationale. The other options are not required elements.
An acquisition team is conducting market research for a new requirement. Which of the following is a recognized market research technique according to FAR Part 10?
Answer: Reviewing catalogs and other generally available product literature.
FAR Part 10.002(b)(2) lists several techniques for conducting market research, which include reviewing catalogs and product literature, querying government databases, and holding presolicitation conferences. The other choices represent actions that are contrary to the principles of effective market research and promoting full and open competition.
A project manager identifies a potential risk that a critical technology component for a new system may become obsolete during the contract's period of performance. In the context of acquisition planning, what is this an example of?
Answer: Technical Obsolescence Risk
The risk of technology becoming outdated is specifically identified as 'risk of technical obsolescence' in acquisition guidance. This type of risk is a key consideration during acquisition planning for technology-intensive projects and must be assessed and mitigated.
When is a written acquisition plan generally required?
Answer: For acquisitions expected to exceed the Simplified Acquisition Threshold (SAT).
While the level of detail varies, policy generally requires a written acquisition plan for all acquisitions expected to exceed the simplified acquisition threshold (SAT). Agencies may require them for lower-value acquisitions as well, and they are particularly important for high-risk contract types like cost-reimbursement, but the primary threshold is the SAT.