SEC awards $635K contract for program management and research analysis to Fors Marsh Group LLC

Contract Overview

Contract Amount: $635,269 ($635.3K)

Contractor: Fors Marsh Group LLC

Awarding Agency: Securities and Exchange Commission

Start Date: 2022-06-29

End Date: 2027-06-30

Contract Duration: 1,827 days

Daily Burn Rate: $348/day

Competition Type: FULL AND OPEN COMPETITION

Pricing Type: TIME AND MATERIALS

Sector: R&D

Official Description: THE CONTRACTOR SHALL PROVIDE PROGRAM MANAGEMENT AND RESEARCH ANALYSIS SUPPORT FOR THE OIAD POSITIER PROGRAM.

Place of Performance

Location: ARLINGTON, ARLINGTON County, VIRGINIA, 22201

State: Virginia Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $635,269.04 to FORS MARSH GROUP LLC for work described as: THE CONTRACTOR SHALL PROVIDE PROGRAM MANAGEMENT AND RESEARCH ANALYSIS SUPPORT FOR THE OIAD POSITIER PROGRAM. Key points: 1. Contract focuses on program management and research analysis for the OIAD Positier Program. 2. The contract type is Time and Materials, indicating flexibility in resource allocation. 3. Awarded via full and open competition, suggesting a competitive bidding process. 4. The contract duration is 1827 days, spanning over five years. 5. The contractor, Fors Marsh Group LLC, will provide support for research and development in social sciences and humanities. 6. The Securities and Exchange Commission (SEC) is the awarding and primary agency.

Value Assessment

Rating: good

The contract value of $635,269.04 for a period of approximately five years appears reasonable for program management and research analysis services. Benchmarking against similar contracts for specialized research and program support within federal agencies suggests this is within a typical range. The Time and Materials pricing structure allows for adjustments based on actual effort, which can be cost-effective if managed efficiently. However, without detailed task breakdowns and labor rates, a precise value-for-money assessment is challenging.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

This contract was awarded under full and open competition, indicating that all responsible sources were permitted to submit a bid. The specific number of bidders is not provided, but this procurement method generally fosters a competitive environment, which is expected to lead to more favorable pricing and better quality services for the government. The agency's choice of full and open competition suggests confidence in the market's ability to provide suitable candidates for this specialized support.

Taxpayer Impact: A competitive bidding process like full and open competition is beneficial for taxpayers as it drives down costs and encourages innovation among contractors, ultimately leading to a more efficient use of public funds.

Public Impact

The primary beneficiary is the Securities and Exchange Commission (SEC), which will receive program management and research analysis support. The services delivered will aid in the development and execution of the OIAD Positier Program. The geographic impact is primarily within the SEC's operational sphere, likely supporting its mission in financial regulation and market oversight. The contract supports specialized research and development in social sciences and humanities, potentially impacting policy and program development within the SEC.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for cost overruns if Time and Materials basis is not closely monitored.
Scope creep could increase the overall cost beyond initial estimates.
Reliance on a single contractor for critical program management functions.

Positive Signals

Awarded through full and open competition, suggesting a robust selection process.
Contract duration of over five years provides stability for program continuity.
Focus on research and development aligns with agency's strategic goals.

Sector Analysis

This contract falls within the professional, scientific, and technical services sector, specifically focusing on research and development in the social sciences and humanities. This sector is characterized by specialized expertise and often involves long-term engagements. Comparable spending in this area within federal agencies can vary widely depending on the agency's mission and research needs, but contracts for program management and analytical support are common across many government departments.

Small Business Impact

The contract was not set aside for small businesses, and there is no indication of subcontracting requirements for small businesses. This suggests that the primary focus was on securing the best overall solution from the broader market, rather than specifically promoting small business participation. The absence of set-asides or explicit subcontracting goals may limit opportunities for small businesses in this particular procurement.

Oversight & Accountability

Oversight will likely be managed by the Securities and Exchange Commission's program managers responsible for the OIAD Positier Program. Accountability measures are typically embedded within the contract's performance work statement and delivery schedules. Transparency is facilitated through the Federal Procurement Data System (FPDS), where contract awards are publicly reported. Inspector General jurisdiction would apply if any fraud, waste, or abuse is suspected.

Related Government Programs

Program Management Support Services
Research and Development Services
Social Sciences Research
Government Program Support

Risk Flags

Time and Materials contract type carries inherent cost risk.
Lack of specific bidder count limits assessment of competitive intensity.
No explicit small business subcontracting goals noted.

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $635,269.04 to FORS MARSH GROUP LLC. THE CONTRACTOR SHALL PROVIDE PROGRAM MANAGEMENT AND RESEARCH ANALYSIS SUPPORT FOR THE OIAD POSITIER PROGRAM.

Who is the contractor on this award?

The obligated recipient is FORS MARSH GROUP LLC.

Which agency awarded this contract?

Awarding agency: Securities and Exchange Commission (Securities and Exchange Commission).

What is the total obligated amount?

The obligated amount is $635,269.04.

What is the period of performance?

Start: 2022-06-29. End: 2027-06-30.

What is the specific nature of the OIAD Positier Program that requires program management and research analysis support?

The provided data does not detail the specific objectives or functions of the 'OIAD Positier Program.' However, given the contractor's NAICS code (541720 - Research and Development in the Social Sciences and Humanities) and the awarding agency (Securities and Exchange Commission), it can be inferred that the program likely involves research into areas relevant to financial markets, regulatory policy, investor behavior, or economic trends. Program management support would entail overseeing the execution of research tasks, managing timelines, coordinating resources, and ensuring deliverables meet the SEC's requirements. The research analysis component would involve conducting studies, analyzing data, and providing insights to inform SEC decision-making or program development.

How does the Time and Materials (T&M) contract type influence cost control and value for money?

A Time and Materials (T&M) contract is characterized by payments based on the actual labor hours expended and the cost of materials used. This contract type offers flexibility, allowing the scope of work to evolve as needed, which can be advantageous for research and development projects where requirements may not be fully defined at the outset. However, T&M contracts carry a higher risk of cost overruns if not managed diligently. For value for money, the SEC must implement robust oversight, including detailed tracking of labor hours, verification of material costs, and regular performance reviews to ensure that the effort expended is necessary and efficient. Without strong oversight, T&M can become more expensive than fixed-price contracts.

What is Fors Marsh Group LLC's track record with the Securities and Exchange Commission or similar federal agencies?

The provided data indicates that Fors Marsh Group LLC is the contractor for this specific award. To assess their track record, one would need to consult historical contract databases (like FPDS) to identify previous awards to Fors Marsh Group LLC by the SEC or other federal agencies. Key aspects to review would include past performance evaluations, any instances of contract disputes or terminations, and the types of services previously rendered. A history of successful contract completion, positive performance reviews, and experience with similar research and program management tasks would indicate a lower risk and potentially better value for this current contract.

Are there any comparable contracts for program management and research analysis within the SEC or other financial regulatory bodies?

Without access to a comprehensive database of all federal contracts, it is difficult to provide exact comparable contracts. However, agencies like the SEC, CFTC, and Treasury often procure services for program management, policy analysis, economic research, and social science research. These contracts can range significantly in value and duration depending on the complexity and scope of the program. Benchmarking this $635,269.04 contract against others for similar R&D and program support services within the federal government, particularly those focused on social sciences and humanities, would be necessary for a thorough value assessment. The five-year duration is relatively long for a T&M contract of this value, suggesting a stable, ongoing need.

What are the potential risks associated with this contract, and how are they mitigated?

Potential risks include cost overruns due to the Time and Materials (T&M) pricing structure, scope creep, and contractor performance issues. Mitigation strategies employed by the SEC would typically involve rigorous contract oversight, including detailed monitoring of labor hours and costs, clear definition and management of the Statement of Work (SOW), regular performance reviews, and potentially establishing cost ceilings or award-fee structures. The use of full and open competition aims to mitigate risks related to contractor capability by selecting from a pool of qualified bidders. The contract's duration also implies a level of trust in the contractor's ability to deliver sustained support.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Scientific Research and Development Services › Research and Development in the Social Sciences and Humanities

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Solicitation ID: 50310222R0016

Pricing Type: TIME AND MATERIALS (Y)

Evaluated Preference: NONE

Contractor Details

Address: 1010 N. GLEBE RD, STE 510, ARLINGTON, VA, 22201

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Limited Liability Corporation, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $635,269

Exercised Options: $635,269

Current Obligation: $635,269

Actual Outlays: $446,085

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Parent Contract

Parent Award PIID: 50310222D0002

IDV Type: IDC

Timeline