statistical analysis
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1. What pitfalls must you recognize when working with data that is utilized in the statistical analysis you are conducting?
2. What are the potential pitfalls in comparing a company's indirect cost to the rate of another firm?
2a. Why evaluate risk in analysis plan development?
3. What major challenges do you face in the role as a contracting officer, negotiation team leader or other leadership role as an Government acquisition procurement representative in successfully communicating your pricing basis with the contractor(s)?
4. What do you think are the major consequences and liabilities you face by doing inept, short cut homework with respect to market research on your acquisition procurement contract?
5. What are the elements associated with determining a fee based on an optimistic and a pessimistic estimate?
5a. What signals do you look for from the other parties that determine fairness in the decision you have or would make concerning equitable adjustments?
6. What is the most effective presentation methodology and style to address with the prospective contractor that the proposed price that they have presented is not realistic? (Assume that you really need this contractor because of the limited competition in your area and you have very little price leverage, but the price is still unreal.)
7. What inherent barriers exist to prevent you from ascertaining that there exists defective pricing? Discuss why these are difficult to assess and what one can do about them.
8. Improvement Curve Theory is an approach. How can you determine whether your approach to learning curve analysis will have merit (is worth the effort) in predicting the quantitative amount of improvement over a fixed amount of prescribed time?
9. What mathematical analysis, documentation and research covered in this course do you think have the most practical application and return on your investment of time as tools to derive a cost-effective and quality contract of services or material for the Government? Why?
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This answer provides you an excellent discussion on statistical analysis
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1. What pitfalls must you recognize when working with data that is utilized in the statistical analysis you are conducting?
When working with data used in statistical analysis, there are three type of pitfalls that we encounter. The first is that there might be mistakes in the interpretation of results derived from the statistical analysis. The second is that there may be errors in the data analysis methods that may lead to erroneous results. Finally, there might be sources of bias in the data.
2. What are the potential pitfalls in comparing a company's indirect cost to the rate of another firm?
When comparing a company's indirect costs to the rate of another firm the pitfalls are that there may be differences in the base of allocation for each indirect cost rate. Unless allocation bases are same between two companies the indirect costs cannot be compared. Fundamentally, indirect cost rate is the ratio between total indirect costs and the benefiting direct costs it is necessary that indirect costs in the numerator bears a reasonable relationship to the direct costs from the denominator. Comparisons, of rates between companies leads to distortions because the denominator is not the same for different companies.
2a. Why evaluate risk in analysis plan development?
It is important to evaluate risk in analysis plan development because it helps earmark capital expenditure needed to be allocated to control risks. Further, it saves management time in periodically reviewing risks. This also helps identify safety training needs. Further, it helps show board members, shareholder, and statutory bodies that the firm is recognizing, evaluating, and controlling risks. Finally, it helps recognize the unsafe behaviors during safety programs.
3. What major challenges do you face in the role as a contracting officer, negotiation team leader or other leadership role as an Government acquisition procurement representative in successfully communicating your pricing basis with the contractor(s)?
When a contracting officer negotiates with a contractor or contractors the first challenge is that the cost analysis presented by the contractor has hidden elements that inflate the cost. Second, there are differences between the contracting officer's estimate and the contractor's estimates of costs. Third, there basis of cost estimation ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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