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6 <br /> ORANGE COUNTY <br /> NOR C-1R0I.I N <br /> C. Cost or Price Analysis <br /> For every procurement action, including contract modifications and regardless <br /> of method, either a cost or price analysis will be performed depending on the <br /> adequacy of competition. A price analysis will be performed when competition <br /> is adequate, and a cost analysis will be performed when competition is <br /> inadequate or severely limited. <br /> D. Economic Purchasing <br /> Proposed procurements will be reviewed to avoid duplicative or repetitive <br /> purchases to the greatest extent feasible and consistent with good <br /> procurement practices. Consideration should be given to consolidating or <br /> breaking out procurements to obtain more economic pricing. Where <br /> appropriate, analysis will be made of lease versus purchase alternatives or <br /> any other appropriate methodology to determine the most economical <br /> approach. <br /> E. Contract Administration <br /> OPT or Orange County will maintain a contract administration system <br /> designed to ensure conformance by all parties with the terms, conditions, and <br /> specifications of their contracts. <br /> F. Sound and Complete Agreement <br /> All contracts shall include provisions to define a sound and complete <br /> agreement appropriate to the type and complexity of the project. At a <br /> minimum, these include a well-defined statement of work or specification, a <br /> defined contract term, a clear statement of the price and payment terms, and <br /> all applicable clauses required by Federal, State, or local laws and <br /> regulations. Contracts should generally include all the proper specifications <br /> that allow for administrative, contractual, termination and legal remedies. <br /> G. Independent Cost Estimates <br /> For any procurement, an independent cost estimate shall be generated by <br /> OPT as a starting point for determining the reasonable pricing or costing of a <br /> product or service. Independent cost estimates shall be generated before <br /> receiving bids or proposals. <br /> H. Federal Cost Principles <br /> The Federal Acquisition Regulation part 31 cost principles will be incorporated <br /> by reference in all contracts where allowable costs must be determined for <br /> payment (e.g., all cost reimbursement contracts) and for negotiating all fixed- <br /> price contracts and modifications when costs are estimated by the contractor <br /> 4 <br />