1800 Diagonal Rd #600

King Street Station, PMB-119

Alexandria, Virginia 22314

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1800 Diagonal Rd #600

Alexandria, Virginia 22314

Market Research  (1 Day)

FAC-COR Elective Training − All Levels

Course Perspective: This course focuses on implementing the FAR requirement to conduct market research for all acquisitions exceeding the simplified acquisition threshold or whenever the situation calls for it such as “new requirements” or “limited source justifications.” It focuses on identifying market research needs; performing market research; analyzing market research results; and preparing a market research report. It guides participants through each market research step and option including accessing and using high value websites and exploring effective strategies and tactics to address acquisition needs. Participants are provided with templates for conducting a market research meeting, issuing a market research announcement, and preparing a market research report.

 

Learning Objectives: At the conclusion of this training, participants will be able to:

 

  • Prepare a market research plan.

  • Target their market research, as needed, to commercial item availability; source capability and interest; existing contract vehicles; competition; set-aside viability; requirement and service level feasibility; requirement affordability; risk assessment; and/or other factors.

  • Identify when and how to use Government data bases including the Interagency Contract Directory, Federal Business Opportunities, Federal Procurement Data System, and the System for Acquisition Management.

  • Identify when and how to use commercial data bases to quick screen for commercial and non-developmental items.

  • Prepare a “Market Research Meeting with Vendor” letter including a checklist of discussion topics.

  • Use a team approach to prepare for and conduct market research by conference call; teleconferencing, and online communication.

  • Identify when and how to use a pre-solicitation conference to explore requirement feasibility, assess industry interest, or review draft documents; prepare a conference agenda; and conduct/document the conference.

  • Identify when and how to issue a market research announcement including “sources sought” and “vendor qualification.”

  • Conduct market analysis to determine if market research should be continued redirected, or conclude.

  • Prepare a market research report to adequately document the process and present a logical and compelling set of findings and recommendations.

 

Hours: 8 hours/CLPs are credited for completion of this course. Classroom hours are 8:30 – 4:30.