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