CHAPTER 2
Independent Government Cost Estimates
(FAR 4.803, 13.106-3, 15.404-1 and 406-1, 36.203, 36.605)
A cost estimate is the estimated cost or price of supplies or services to be purchased for the federal government. Commonly referred to as independent government cost estimates (IGCE) within the federal government, cost estimates are important in the acquisition process, but they are often prepared incorrectly. Acquisition audit reviews have shown that too many contracts have incomplete or inadequate estimates.
Sadly, some believe that government estimates are not important. Not long ago, an acquisition instructor noted that government estimates were not worth the paper they were written on, implying that they were not necessary. On the contrary: ...
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