Best practices in procurement planning include the use of outsourcing analysis to assess contract risks and market research to identify supplier capabilities, as well as determine industry practices for describing the requirement and determining contract type. Early supplier involvement though the use of pre-solicitation conferences and industry benchmarking are also considered best practices.
Best practices in solicitation planning include using cross-functional teams for developing solicitations, and identifying contract risks. The use of Statements of Objectives (SOO) and Performance-based Statements of Work (SOW) are also considered best practices.
Best practices in the solicitation phase include using web-based and other paperless solicitation processes, as well as using draft solicitations as a source industry feedback.
Best practices in the source selection phase include using a formal source selection organization with trained and experienced cross-functional proposal evaluation teams, using a weighting system to prioritize the evaluation criteria and using a disciplined approach to following the evaluation criteria stated in the solicitation. Additional best practices include obtaining independent cost estimates to assist in evaluation supplier proposals, and conducting a price realism analysis on each supplier proposal.
Best practices in the contract administration phase include using a formal contract administration methodology with trained and experienced cross-functional team members competent in contractor performance measurement. Additional best practices for the contract administration phase include using an integrated performance evaluation method and establishing a contract change control process.
Contract Close-out Best practices in the contract closeout phase include designating and empowering a formal contract closeout team, using contract closeout checklists, and documenting contracting lessons learned and best practices.