Government Contract Woes: No Profit On $200000 - Time To Negotiate For More Money?
Feb 05, 2025Winning a government contract is just the beginning—it's the first step in a long-term relationship that requires careful management and negotiation. In this video, Richard Howard and Louis Orndorff dive deep into the complexities of government contracting through a case study involving Stephen, a student from their GovClose Certification Program, who recently secured a federal contract. However, Stephen soon found that mismanaging expectations and deliverables led to unforeseen challenges, jeopardizing his profitability.
The conversation emphasizes the importance of negotiating existing contracts with government agencies. As Colonel Orndorrf, a former government contracting officer, explains, contractors are not locked into unfavorable terms. Understanding the contract’s fine print, negotiating changes, and keeping open lines of communication with contracting officers are essential to ensuring a successful contract lifecycle.
The key takeaway? Contractors must continuously advocate for themselves, especially when new requirements arise post-contract award. Knowing how to negotiate adjustments and clarifications can protect your profitability and keep projects on track.
This video is an invaluable resource for anyone in the government contracting space, offering key insights into effective contract management and negotiation strategies.
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