FAR Part 1 Deck 1 Flashcards
(111 cards)
What is the purpose of the Federal Acquisition Regulations System?
To codify and publish uniform policies and procedures for acquisition by all executive agencies.
What does the Federal Acquisition Regulations System consist of?
The Federal Acquisition Regulation (FAR) and agency acquisition regulations that implement or supplement the FAR.
What is the vision for the Federal Acquisition System?
To deliver the best value product or service to the customer while maintaining the public’s trust.
What are the key performance standards for the Federal Acquisition System?
Satisfy the customer in terms of cost, quality, and timeliness.
Who are the principal customers of the Federal Acquisition System?
The users and line managers acting on behalf of the American taxpayer.
Fill in the blank: The Acquisition Team consists of all participants in Government acquisition, including _______.
[customers and contractors]
What is the role of each member of the Acquisition Team?
To exercise personal initiative and sound business judgment in providing the best value product or service.
True or False: The Federal Acquisition Regulations System includes internal agency guidance.
False
What should the Government maximize in meeting its requirements?
The use of commercial products and commercial services.
What is the policy regarding competition in the acquisition process?
To promote competition.
What is the requirement for rules, regulations, and policies in the System?
hint- the X must outweight Y
Their benefits must clearly exceed the costs of their development, implementation, administration, and enforcement.
What must all members of the Acquisition Team do regarding planning?
Employ planning as an integral part of the overall process of acquiring products or services.
The FAR is published in which formats?
- Daily issue of the Federal Register
- Cumulated form in the Code of Federal Regulations (CFR)
- A separate edition available online
What does the FAR outline?
Procurement policies and procedures used by members of the Acquisition Team.
What does the CO do?
What is it that a CO does?
Determines the application of rules, regulations, and policies on a specific contract.
What is the purpose of defining the Acquisition Team in the Guiding Principles?
To ensure that participants in the System are identified and to encourage teamwork and open communication.
What should the Government’s approach to risk be?
Shift from risk avoidance to risk management.
What are the two councils responsible for the development of the FAR System?
- Acquisition Council
- General Services Administration
What does the FAR not apply to?
Acquisitions that are expressly excluded.
What is the FAR’s chapter number in the CFR?
Chapter 1 of Title 48.
What is the numbering system in the FAR used for?
To permit the discrete identification of every FAR paragraph.
Fill in the blank: The FAR is issued as Chapter 1 of Title 48, CFR, and subsequent chapters are reserved for _______.
[agency acquisition regulations]
What must contracting officers communicate with industry about?
Capabilities available in the marketplace.
What is the FAR’s stance on fairness and openness?
It requires maintaining the public’s trust through integrity, fairness, and open communication.