Our latest video and article provide essential tips and strategies for government contractors, both small and large, to ensure success throughout the government contracting process.
Today's Government contracting tips are some basic considerations for success in government contracting. Government contracting is complicated at all levels, including prime contract administration, pricing aspects, subcontract administration issues, and accounting. However, here are a few tips to help keep your house in order.
Tip #1 - Develop a Relationship with Your Government Contracting Officer and Your Prime Contract Administrator
You may have been doing business with an entity or a buying command for years. However, staff change and roles change over time. If a sticky situation arises, having a relationship and conversation with your counterpart is much better. If a level of trust has been established, you can usually get to the finish line on a matter more efficiently.
Tip #2 - Spend the Time to Develop Collaboration Within Your Organizational Teams
Government contracting is a team sport and affects all functional groups. Collaborate as a group to analyze a solicitation and determine the gaps or potential issues. Each functional group must collaborate with each other on the requirements across the company, from operational to technical to administration, financial management, and accounting.
Tip #3 - Take the Time to Analyze a Solicitation Before You Decide to Bid
As a group, answer these questions:
- Can my company really perform?
- Do we have the financial resources and personnel resources to operate efficiently?
- If we win, can we move quickly enough to begin a phase-in?
- What will that take?
- And do our personnel have the bandwidth to support?
Programs and contracts always have challenges. You should prepare for the scenarios, as mistakes cost money and performance.
Tip #4 - Take Time to Layout the Framework of How You Desire the Program to Operate
A first good start is a well-prepared contract briefing kick-off so the functional groups know what the requirements are, the deliverable schedules, and their counterparts. Enhance this to capture any training requirements certifications your staff may need for the terms of the contract. Think about how you want to handle approvals that may be required for travel, overtime, training, and purchases. There are a lot of checks and balances and approvals that need to be well documented in your records.
Tip #5 - If You're a Small Business Subcontractor Working Under a Large Business, Take Time to Attend the Networking Events Hosted
Growth depends on networking and establishing those relationships across the organization, from business development to program management and procurement. Don't assume that the large business prom already knows about your capabilities across their organization. Unfortunately, only the program manager on your existing contract may know your capabilities.
Redstone Government Consultants are a team of the most senior industry veterans and the brightest talent in the industry. Many have held senior government positions, including leadership roles in DCAA. Our new talent brings significant accounting, contract administration, and human resources experience specific to government contracting. Through our leadership and combined experience, we provide a unique perspective, bringing both government and contractor together for compliance for our clients.
