By Quentin W. Fleming
Covers the topic of development funds in response to charges incurred, as required through the Federal Acquisition rules, a long way sub-part 32.5. The ebook recommends holding a linkage among all growth funds and the supplier's actual functionality to be able to reduce dangers.
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Additional resources for A Probus Guide to Subcontract Project Management and Control: Progress Payments
No buyer can properly manage a complex subcontract without the benefit of multifunctional support from across the prime contractor's organization. Post-Award Management 45 A given program will often conduct periodic performance status reviews on their various subsystems and components. Such meetings are typically called by the program management office, by engineering, by manufacturing, or sometimes by the procurement organization. The responsible buyer has a vital role to play in such status reviews anytime their subcontract is discussed.
In most cases it will be up to the respective buyer to inform these field office personnel of the salient issues at a given supplier. , in order to make their surveillance efforts as meaningful as possible. Assuming that the proper steps had been taken prior to making the award, the buyer will have in place some type of subcontractor delivery schedule (see the Gantt Chart illustrated in Figure 2-5). and this schedule should be dutifully updated and submitted each month by the supplier as an integral part of their requests for progress payments.
And yet, out of necessity, letter contracts do happen. 11). Only customary progress payments (no flexible) may be authorized, and only the ordinary liquidation rate (no alternate) may be used until the letter contract is definitized. upon contract definitization, all unliquidated amounts under the letter contract must be superseded by the new defkitized contract value, and if a full liquidation of letter contract progress payments does not occur, the supplier is obligated to pay a full liquidation of prior payments upon demand.