Source Selection Step by Step

CHAPTER 8USING MARKET RESEARCH

A relatively new and important addition to the FAR is Part 10, Market Research. Conducting market research is required by law for all planned acquisitions other than simplified acquisitions. While FAR Part 10 outlines the goals of market research and, to some extent, the manner in which it can be conducted, it does not specify the amount of money and time that can or should be spent on market research. Agency officials determine how much market research to conduct based on their own business judgment. Spending $200,000 on market research might be overkill for a relatively straightforward acquisition of modest value, ...