One of the most popular video games of all time is Ms. Pac-man. The gameplay is similar to her predecessor Pac-man, where points are earned by traveling in a maze and eating pellets and avoiding ghosts. Players may eat an energizer, or “power pellet”, which turns the ghost blue and allows them to be eaten by Ms. Pac-man for extra points. What if I told you there are several “power pellets” in federal contracting, and, if focused on, will turn the federal government marketplace blue and allow you to move through the maze at an increased pace. You’ll gain more points, revenues, and market share as you traverse the maze and gobble up opportunities.
One major power pellet is Federal Acquisition Regulation (FAR) Part 10 Market Research. Market research is collecting and analyzing information about capabilities within the market to satisfy federal agencies’ needs. It’s a continuous process throughout the acquisition life-cycle, however is typically associated with the pre-award phase of contracting under Requirements Development. Requirements Development is the process taken by the contracting activity and requirements user (customer) in which they formally define the requirement and decide on the acquisition strategy and potential set-aside. The optimal place to re-focus your attention and help your company get noticed is the Requirements Development phase of a future opportunity.
Part 10 Market Research states that agencies shall conduct market research appropriate to the circumstances:
- Before developing new requirements documents for an acquisition;
- Before issuing an RFQ/RFP for acquisitions greater than the simplified acquisition threshold (SAT);
- Before issuing an RFQ/RFP for acquisitions less than the SAT under certain circumstances;
- On an ongoing basis and to the maximum extent practicable, to effectively identify the capabilities of small businesses and new entrants into federal contracting
The last bullet deserves an encore because it has power pellet written all over it. The statement serves as a mandate to have a visible presence across the “market” so you are positioned to be included in the “research” results gathered by federal agencies.
Now that you’re aware that agencies have an ongoing responsibility to conduct market research, you have to ensure you are listed in the databases used for research purposes. The following three resources are commonly used for research by contracting professionals:
- Small Business Administration (SBA) Dynamic Small Business Search (DSBS) – used by agencies to identify small business contractors for upcoming opportunities
- System for Award Management (SAM) – primary database that agencies use to locate companies eligible to do business with the government. Agencies use search parameters, such as North American Industry Classification System (NAICS), Product Service Code (PSC), set-aside status, etc.
- Federal Business Opportunities (FBO) – FBO or FedBizOpps is required for use by agencies for all contracts valued over $25,000. It’s also used to conduct market research
In closing, FAR Part 10 Market Research and the Requirements Development phase of federal contracting is a huge power pellet for you to leverage and accelerate your growth in federal contracting. Refine your profile in these resources and gobble up your opportunities!