What acquisition strategy will work best in your situation? The answer depends on many factors assessed or researched thoroughly in prior phases of the acquisition life cycle, such as:

• the agency objectives,
• technical scope, complexity and risk profile,
• commonality of requirements in other programs,
• budget and schedule,
• socio-economic goals,
• statutory or regulatory mandates,
• the contracting options available, and
• competition in the marketplace

Conducting an acquisition strategy panel is an effective way to examine acquisition alternatives and approaches for your program. For large, complex requirements, an integrated product or solution team consisting of key members of the program and acquisition groups often works best. Members of the team should have expertise in technical planning and needs analysis, regulatory requirements, budget and finance, economic and market analysis, and cost/price analysis.

A detailed independent Government cost estimate (IGCE) includes an estimate of the resources and a projected cost of resources that a prudent business would incur in performing a contract. The IGCE enables you to determine if adequate funding is available to perform the job; to designate appropriate funding approval levels; to select an acquisition strategy (including the procurement method) and to decide to include certain data or clauses. Tools like The Virtual Acquisition Office provide a wealth of information about available schedules, services, and costs to help you prepare your IGCE.

You may discover that more than one approach fits your program, so identifying and quantifying the costs and benefits of the various alternatives can help you select the best strategy. Once you identify the strategy, you can begin to look for appropriate sources and mechanisms to implement it.

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