This is significant as it gives them the right to deal with contract changes as they deem them appropriate. They also approve the use of experts. Additionally, the right to terminate contracts reduces chances of conflicts and lawsuits where there is the likelihood of disagreement.
Government contracting binds the terms of the contract between the contractors and the contracting officers as employees of the government, contracting officers and administrators ensure that contracts are run smoothly as per the agreed terms, while at the same time safeguarding the interests of America (Department of State Foreign Affairs, 2012).
The officers and administrators ensure that funds are available for procurement and contract activities. GAO investigated the department of energy due to the high costs involved in them. With the responsibility of ensuring that there is adequate use of resources, with calls for lower government spending, then effective monitoring of costs achieves this purpose.
Contract schedules identify the activities to be carried out in the contract agreement. it spells out the time for the completion of the activities in a chronological order. Adequate allocation of the available resources is also required to avoid unnecessary delays in contract implementation. Contract activities are then linked together to produce the overall schedule of activities, this, ensures that there is no duplication of activities. Another essential part is estimating the shortest time in which the contract can be completed. this follows the individual time of the activities. There is a need for analysis of the risk factors inherent in the contract, which may delay its completion.