In this episode, Kevin and Paul dive into the FAR Part 10 Overhaul, a key part of the larger FAR 2.0 update known as “The Revolutionary FAR Overhaul.” FAR Part 10, which guides market research in federal acquisitions, has been dramatically shortened from 1300 words to just 318. The section on “procedures” has been removed, and “shall” has been replaced with “must.” Agencies now need to document market research results in a way that fits the acquisition’s size and complexity. The reference to a threshold for contracts worth over $6 million has been eliminated, along with many key words and sections, including those related to small businesses, trade-offs, consolidation, and bundling. The new FAR Part 10 favors existing contracts and incumbents, offering less guidance on how to conduct market research. COs have more freedom but less tactical guidance, and acquisition teams now have tools in one place, which could either streamline training or overwhelm with too many topics.
If you sell commercial products and services, this overhaul might bring more government business your way. However, if you’re not an incumbent or don’t have an existing contract, the new language drives the government to existing contracts, making it harder to break in. This overhaul aims to make market research regulations simpler and more efficient, giving COs more freedom but favoring existing contracts and incumbents, which could impact the diversity of the vendor base.
Tune in to hear Kevin and Paul break down these changes and what they mean for you!