Along with spring, comes spring cleaning. It is time to shake out the cobwebs, dust off surfaces and switch out seasonal items. We’re not just referring to housekeeping but to contract administration. As the new summer contracting season approaches, its time to look at current and recently completed contracts to be certain that you are moving forward with refreshed facts and figures. With this in mind, here are our top 5 Contract Spring Cleaning activities:
- Review your SAM registration. When does it expire? Do you have all of the needed NAICS codes for upcoming solicitations?
- Update your Dynamic Small Business Search (DSBS) profile. Review your keywords & capability narrative. Update your references to include current and recently completed contracts.
- Renew business relationships. Strengthen existing relationships by reaching out to previous prime or subcontractors to remind them of your successfully completed activities and to discuss potential new contracts. Knock on a few new doors and expand your business network.
- Audit your contract performance to-date. Review completed contracts and compare the actual costs and levels of effort against proposed numbers. Was your company on target? Wash there a profit gain or loss? Did the contract go over or stay within the proposed budget? Did you have the needed experienced staff and/or subcontractors to complete performance on time? Where there “sticking points” with the agency and that could be smoothed out for the next contract performance?
- Complete contract closeout for finished contracts. Busy offices often put this item on the backburner and then forget to complete critical activities, such as; verifying that you were paid for any outstanding costs triggered by contractual changes, capturing past performance, and completing any reporting requirements.
Looking for assistance on any of the tips listed above? Schedule an appointment with one of the Alaska APEX Accelerator’s Contract Specialist. We also recommend checking out the Alaska APEX Accelerator’s on-demand webinar library. There’s a webinar that addresses many of the items listed above.