Contract Cost and Price Analysis

Obtaining fair and reasonable pricing from contractors and suppliers is a critical goal for both businesses and governments. This program equips participants with the essential skills to conduct effective Cost and Price Analysis, enabling better decision-making in procurement and contract management. Attendees will learn to manage costs in volatile markets, understand pricing methods used by contractors, and evaluate the elements that make up a fair and reasonable price.

By the end of this program, participants will be able to:

• Understand the importance of price and cost analysis in continuous improvement programs
• Differentiate between cost analysis and price analysis and select the appropriate method
• Apply methods of price analysis, including historical and market-based techniques
• Use analytical tools to identify cost drivers and develop “should cost” models
• Analyze supplier pricing models and Total Cost of Ownership (TCO) approaches
• Implement strategies to obtain better pricing in volatile markets
• Report and track cost reduction and savings effectively

• Contract and Procurement Managers
• Supply Chain Professionals
• Cost Estimators and Analysts
• Commercial and Contract Officers
• Project Managers involved in procurement and vendor negotiations