Overhaul Your Subcontracting Plan
If you’re like most larger GovCon businesses, subcontracting is a key part of your success. After all, there’s only so much that you can do in-house, and partnering with the right subcontractors can help you get the work done quickly and efficiently.
However, if you’re not careful, subcontracting can also lead to compliance issues. In this blog post, we’ll discuss some tips for overhauling your subcontracting plan to make sure that you’re getting the most out of it while staying within compliance.
The Benefits of Subcontracting
First, let’s take a look at some of the benefits of subcontracting:
- Subcontracting can help you save time and money. When done correctly, it can be a more efficient way to get work done.
- Subcontracting can also help you tap into new networking opportunities. By partnering with the right subcontractors, you can form new alliances that you might not have had access to otherwise.
- Finally, subcontracting can help you improve your overall quality control. By working with experienced and reputable subcontractors, you can ensure that the work meets your highest standards.
Now that we’ve gone over some of the benefits of subcontracting, let’s discuss how to create a compliant subcontracting plan.
Creating a Compliant Subcontracting Plan
When creating your subcontracting plan, there are a few things that you’ll need to keep in mind in order to stay compliant:
- First, make sure that you have a clear understanding of the rules and regulations surrounding subcontracting. The Federal Acquisition Regulation (FAR) has specific guidelines that you’ll need to follow.
- Next, create a list of potential subcontractors. When compiling this list, be sure to consider factors such as experience, cost, and quality.
- Once you have your list of potential subcontractors, reach out to them and request a potential teaming meeting. Be sure to include all relevant information in your request so that the contractor can be prepared with their SMEs.
- Once you’ve received the bids, it’s time to make a decision. When choosing a subcontractor, be sure to consider all of the factors that you listed earlier.
- Finally, once you’ve chosen your group of subcontractors, be sure to create a detailed contract. This contract should include all relevant information such as the scope of work, timelines, and payment terms.
How to Pick the Right Subcontractor for Government Work
Now that we’ve gone over how to create a compliant subcontracting plan, let’s discuss how to pick the right subcontractor for government work.
- First, make sure that you choose a subcontractor with experience in government contracting. They should be familiar with the FAR and other relevant regulations.
- Next, consider the cost of the bid. When evaluating cost, be sure to look at the overall value that the subcontractor will provide rather than just the bottom line price.
- Finally, take a look at the quality of the work that they’ve done in the past. Be sure to read reviews and talk to other businesses that have worked with them in order to get a better understanding of their quality control process.
The Bottom Line
Subcontracting is a vital part of success as a GovCon business. By following the tips in this blog post, you can create a compliant subcontracting plan and choose the right subcontractors for your next contract. In doing so, you’ll be able to tap into new networking opportunities, improve your quality control, and save time and money.
We Help Government Contractors Manage Things Like Subcontracting
If things like contract negotiations with subcontractors give you a headache, don’t worry. At BOOST, we specialize in the back-office work that can seem like a chore for GovCon businesses.
We’re a team of experts in HR, Accounting, Recruiting, Pricing, contract management, and more. Our specialization is helping government contractors like you excel in all of those areas. For us, handling your subcontractor troubles is no problem at all. That way, you’ll have more time to focus on running your business.
If you or your company are struggling with issues related to subcontracting, and you’d like some expert help, Contact Us today, and let’s talk about how we can assist.