Which phase is the final phase of contracting?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $25.99Unlock all

Study for the ACFE Accounting Terms Test with interactive quizzes. Prepare with multiple choice questions, each question accompanied by explanations and hints. Ensure your success with our study materials!

Multiple Choice

Which phase is the final phase of contracting?

Explanation:
The final phase of contracting is Post-Award and administration. After the contract is awarded, the focus shifts to managing the contract—ensuring performance meets requirements, handling changes and modifications, tracking deliverables and payments, addressing issues or disputes, and eventually closing out the contract when obligations are fulfilled. The other phases occur earlier: Pre-Solicitation involves planning and market research, Solicitation is issuing the opportunity to bid or propose, and Bid evaluation and award is the step where proposals are assessed and a winner is selected. Those phases precede the award and do not cover ongoing administration and closeout, so they aren’t the final phase.

The final phase of contracting is Post-Award and administration. After the contract is awarded, the focus shifts to managing the contract—ensuring performance meets requirements, handling changes and modifications, tracking deliverables and payments, addressing issues or disputes, and eventually closing out the contract when obligations are fulfilled. The other phases occur earlier: Pre-Solicitation involves planning and market research, Solicitation is issuing the opportunity to bid or propose, and Bid evaluation and award is the step where proposals are assessed and a winner is selected. Those phases precede the award and do not cover ongoing administration and closeout, so they aren’t the final phase.

More Multiple Choice Questions
Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy