Fixed-price. Cost-plus. Firm-fixed-price level-of-effort term contract. Just navigating contract terminology can be confusing for new government contractors—and that’s without getting into the details. The federal government uses a number of different contracts, also called acquisition methods or vehicles, to buy goods and services. Each requires a unique approach to bidding and to performing the work after you win.
Understanding the distinct challenges and opportunities of each contract is vital if your business is to succeed as a government contractor. Download a free Deltek white paper to learn the ins and outs of fixed-price contracts.