Federal Acquisition Regulation (FAR): Purpose and Vision
The Federal Acquisition Regulation, or FAR, is
important to the make sure that there are uniform policies in place
for all executive agencies when it comes to acquisitions. The FAR
is designed to deliver the best service or product to the consumer,
and it is also designed to maintain the public’s trust while still
fulfilling public policy objectives.
The FAR does not have an easy task especially
since all the participants involved in the acquisition process must
work as a team. However, they are empowered with the decision
making responsibility in there area of expertise, so the team
process can work a little more smoothly.
However, when we look at the FAR, it states
that the participants must look for the best value for the
consumer. This is not an easy task for any team. The FAR requires
that for each service or product, the team must look at both the
least costly options and the long term cost. In the FAR it is
important to develop a system that works, because in the long term
it costs less.
The FAR requirement of customer satisfaction is
measured by the cost, quality, and timeliness of the product or
service. Also, the system that follows the FAR will be adaptive to
customer needs, and will implement procedures consistent with the
FAR. Plus, the FAR compliant system will choose contractors that
have a history of providing that same customer satisfaction and
superior service.
The FAR encourages competition in the
acquisition process, too. The FAR recommends that the commercial
sector be notified early in the acquisition process in order to
promote competition among vendors. Meanwhile, all the members of
the team are required by the FAR to plan for the acquisition process
appropriately and remain flexible throughout the process.
One area that can get costly for agencies is
the administrative operating costs, so the FAR focuses on minimizing
those costs. Also, the FAR requires that all business be conducted
with integrity, fairness, and openness. The public’s trust is first
and foremost with the FAR, and the team must reflect those traits at
all times. Plus, the team must work toward risk management rather
than risk avoidance, because, according to the FAR, risk management
is more cost effective.
In the end, the FAR balances the fulfillment of
public policy objectives by the system in question and the
responsibility to regulate acquisitions for the public’s sake.
Efficiency and responsibility are integral to the FAR. The FAR
promotes the use of commercial business in the acquisition of
services or products while setting a universal standard for all
federal agencies to follow.
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