Acceptable Estimating System. The Contractor shall maintain the acceptable status of their Estimating System and submit updates to the current status, if applicable
Acceptable Estimating System. An estimating system is a system that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is:
Acceptable Estimating System. An acceptable estimating system is a system that is audited by the Defense Contract Management Agency (DCMA) or any Cognizant Federal Agency (CFA) other than DCMA, that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is:
Acceptable Estimating System. An estimating system is a system that includes policies, procedures, and practices for budgeting and planning controls, and generating estimates of costs and other data included in proposals submitted to customers in the expectation of receiving contract awards. An acceptable estimating system means an estimating system that is: ● Maintained, reliable, and consistently applied ● Produces verifiable, supportable, documented, and timely cost estimates that are an acceptable basis for negotiation of fair and reasonable prices ● Is consistent with and integrated with the Contractor’s related management systems ● Is subject to applicable financial control systems An Acceptable Estimating System is not mandatory; however, Contractors are encouraged to have an acceptable estimating system) or other cognizant auditor for the entire term of BMO. The Contractor shall notify the BMO CO and designated OCO for affected task orders, in writing, if there are any changes in the status of their estimating system and provide the reasons for the change and copies of audit reports, as applicable.
