The Financial Impact of the Untimely Contract Closeout Process and Recommendations for a Streamlined Approach to Improving the Process

Abstract

The purpose of this thesis was to research the financial impact of untimely contract closeouts. The contract closeout procedures at a Navy Contracting Activity and one of its corresponding Paying Activity's were reviewed. The data analysis from a sample of contracts indicated that a possible financial impact does exist. The following reasons for untimely contract closeout were cited: (1) lack of emphasis on the closeout process by management, (2) lack of communication between the contracting and paying activities, (3) non-use of available automation, and (4) lack of knowledge of the adverse financial effects of the closeout process. The thesis provides recommendations to correct these reasons in addition to a final recommendation to develop a Data Base Management System (DBMS). The DBMS recommended requires that it be utilized from the inception to closeout of the contracting process.

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Document Details

Document Type
Technical Report
Publication Date
Dec 01, 1990
Accession Number
ADA246173

Entities

People

  • Thomas S. Bethmann

Organizations

  • Naval Postgraduate School

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Acquisition
  • Contract Administration
  • Contracts
  • Control Systems
  • Data Analysis
  • Database Management Systems
  • Databases
  • Fixed Price Contracts
  • Governments
  • Law
  • Management Personnel
  • Procurement
  • Standards
  • Three Dimensional
  • Time Standards
  • United States
  • United States Naval Academy

Readers

  • Government Contracting/Procurement.