What does FAR Part 15 outline?

FAR Part 15 specifically addresses contracting by negotiation, which includes the processes for source selection and evaluation of proposals. This part is essential for understanding the methodologies and practices used in negotiated procurements, where factors such as price, technical capabilities, and various risk considerations are evaluated to determine the best value for the government.

Negotiated contracts provide the flexibility needed to engage with offerors, particularly in complex scenarios where sealed bids might not allow for sufficient dialogue or best value determinations. Understanding FAR Part 15 is crucial for acquisition professionals as it governs how they should structure solicitations, evaluate proposals, and conduct discussions with offerors to ensure fair and effective procurement processes.

The other options pertain to different parts of the FAR: sealed bidding is addressed in FAR Part 14, contracting for commercial items falls under FAR Part 12, and contract modifications are covered in FAR Part 43. Each of these areas serves specific transactional types and is governed by different regulations, making FAR Part 15 unique in its focus on negotiation.