Acquisition Financial Management

Understands and applies financial management concepts and practices related to acquisition activities.

Key Behaviors:

  • Works with project officer to develop cost estimates
  • Uses financial analysis to evaluate cost and price proposals
  • Selects the appropriate funding terms and/or conditions for a given contract
  • Tracks expenditures to ensure compliance with contract terms
  • Analyzes and renegotiates cost/price of contract as appropriate
  • Maintains a working knowledge of financial systems utilized in acquisitions, including cost accounting and reporting systems
  • Understands and monitors overall financial performance indicators and formulates accurate conclusions and/or projections based on credible financial information

Developmental opportunities for this competency are available from the NIH Training Center.