The complete sequence of activities involved in planning, awarding, managing, and closing a contract. The contracting process typically includes identifying the requirement, developing the procurement strategy, preparing solicitation documents, conducting the procurement, evaluating bids or proposals, awarding the contract, managing contract performance, implementing any approved modifications, and completing or terminating the contract. An effective contracting process helps ensure legal compliance, transparency, value for money, effective supplier relationships, and the successful delivery of goods, services, or works throughout the contract lifecycle.
Contracting Process
The full sequence of activities in planning, awarding, managing, and closing a contract.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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