SEC awards $2.36M contract for data governance support to Peregrine Advisors Benefit Inc

Contract Overview

Contract Amount: $2,360,354 ($2.4M)

Contractor: Peregrine Advisors Benefit Inc.

Awarding Agency: Securities and Exchange Commission

Start Date: 2024-09-26

End Date: 2027-03-30

Contract Duration: 915 days

Daily Burn Rate: $2.6K/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 4

Pricing Type: FIRM FIXED PRICE

Sector: IT

Official Description: DATA GOVERNANCE AND MANAGEMENT SERVICES SUPPORT CALL ORDER

Place of Performance

Location: POTOMAC, MONTGOMERY County, MARYLAND, 20854

State: Maryland Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $2.4 million to PEREGRINE ADVISORS BENEFIT INC. for work described as: DATA GOVERNANCE AND MANAGEMENT SERVICES SUPPORT CALL ORDER Key points: 1. Contract awarded via a broad agency announcement (BAA) call, indicating a focus on research or specific technical needs. 2. The firm-fixed-price contract type suggests predictable costs for the government. 3. The contract duration of 915 days (approximately 2.5 years) provides a stable period for service delivery. 4. The award was made under full and open competition, implying a robust bidding process. 5. The North American Industry Classification System (NAICS) code 541513 points to computer facilities management services. 6. The contract value is relatively small, suggesting a focused scope of work rather than a large-scale program.

Value Assessment

Rating: good

The contract value of $2.36 million over approximately 2.5 years appears reasonable for specialized data governance and management services. Benchmarking against similar contracts for IT support and management consulting within federal agencies suggests this pricing is within expected ranges. The firm-fixed-price structure helps control costs, and the award under full and open competition implies that pricing was likely scrutinized against multiple offers, further supporting its value.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

This contract was awarded under full and open competition, as indicated by the 'CT' field. This means that all responsible sources were permitted to submit a bid. The presence of 4 bids suggests a healthy level of interest and competition for this requirement. The competitive nature of the award process is expected to drive fair market pricing and ensure the government receives competitive offers.

Taxpayer Impact: Full and open competition ensures that taxpayer dollars are used efficiently by fostering a competitive environment that typically leads to better pricing and service quality.

Public Impact

The Securities and Exchange Commission (SEC) will benefit from enhanced data governance and management capabilities. Services delivered will likely improve the organization, accessibility, and security of the SEC's data assets. The geographic impact is primarily within the SEC's operational locations, likely concentrated in Maryland. The contract supports the SEC's mission to protect investors and maintain fair, orderly, and efficient markets.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for scope creep if data governance needs are not clearly defined and managed.
Reliance on a single contractor for critical data management functions could pose a risk if performance falters.

Positive Signals

Awarded under full and open competition, indicating a competitive process that should yield good value.
Firm-fixed-price contract type provides cost certainty for the government.
Contract duration of over two years allows for sustained support and relationship building.

Sector Analysis

This contract falls within the IT services sector, specifically focusing on data governance and management. The market for these services is robust, driven by increasing data volumes and regulatory requirements across all federal agencies. Comparable spending benchmarks for IT support and management consulting services vary widely, but contracts of this size are common for specialized support functions within larger organizations like the SEC. The NAICS code 541513, Computer Facilities Management Services, places it within a well-defined segment of the IT services industry.

Small Business Impact

The contract was not set aside for small businesses, and the 'SB' field is false. Peregrine Advisors Benefit Inc. is not explicitly identified as a small business in the provided data. There is no information available regarding subcontracting plans or their impact on the small business ecosystem. Further investigation would be needed to determine if any small business participation is mandated or expected.

Oversight & Accountability

Oversight for this contract will likely be managed by the contracting officer and program managers within the SEC's relevant IT or data management divisions. Accountability measures are inherent in the firm-fixed-price contract type, requiring the contractor to deliver specified services within the agreed budget. Transparency is facilitated by the public nature of federal contract awards, though specific performance metrics and oversight reports are typically internal unless otherwise mandated.

Related Government Programs

SEC IT Modernization Initiatives
Federal Data Management Policies
Cybersecurity Support Services
IT Consulting Services

Risk Flags

Potential for vendor lock-in if not managed carefully.
Risk of inadequate performance impacting data integrity or security.
Scope definition challenges in complex data environments.

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $2.4 million to PEREGRINE ADVISORS BENEFIT INC.. DATA GOVERNANCE AND MANAGEMENT SERVICES SUPPORT CALL ORDER

Who is the contractor on this award?

The obligated recipient is PEREGRINE ADVISORS BENEFIT INC..

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 $2.4 million.

What is the period of performance?

Start: 2024-09-26. End: 2027-03-30.

What is Peregrine Advisors Benefit Inc.'s track record with federal contracts, particularly with the SEC?

A review of federal procurement data indicates that Peregrine Advisors Benefit Inc. has received federal contracts. However, the extent of their track record, especially with the Securities and Exchange Commission (SEC), requires a deeper dive into contract databases like FPDS or SAM.gov. Without specific contract history details, it's difficult to assess their performance, past performance ratings, or any potential issues encountered on previous federal engagements. It is advisable to check contract award histories and any available past performance information to gauge their reliability and experience in delivering similar services.

How does the $2.36 million contract value compare to similar data governance support contracts awarded by the SEC or other financial regulatory agencies?

The $2.36 million contract value for data governance and management services over approximately 2.5 years is a moderate investment for a federal agency like the SEC. To benchmark effectively, one would compare this to contracts with similar scopes (e.g., IT facilities management, data strategy, compliance support) awarded by agencies such as the Commodity Futures Trading Commission (CFTC), the Department of the Treasury, or the Financial Industry Regulatory Authority (FINRA). Factors like contract duration, specific deliverables, and the competitive landscape influence pricing. Generally, this value appears reasonable for specialized support, avoiding the extremes of very small, task-order-based awards or massive, multi-year enterprise-wide system overhauls.

What are the primary risks associated with this contract, and what mitigation strategies are in place?

Primary risks for this contract could include contractor performance issues, potential scope creep if data governance requirements are not precisely defined, and over-reliance on a single vendor for critical functions. Mitigation strategies typically involve robust performance monitoring by the SEC's contracting officer's representative (COR), clearly defined performance work statements (PWS), and regular progress reviews. The firm-fixed-price nature of the contract incentivizes the contractor to manage scope effectively. Furthermore, the competitive award process suggests the SEC selected a vendor believed to have the capability to meet requirements, and contract clauses likely address remedies for non-performance.

How effective is the SEC's data governance framework, and how will this contract contribute to its improvement?

The effectiveness of the SEC's data governance framework is an internal assessment that is not publicly detailed. However, the award of this contract suggests a recognized need to enhance or maintain existing data governance capabilities. This contract is expected to contribute by providing specialized expertise in areas such as data quality, data lifecycle management, metadata management, data security, and compliance with data policies. The contractor will likely assist in implementing best practices, developing or refining policies, and ensuring data is managed in a way that supports the SEC's mission, regulatory responsibilities, and operational efficiency.

What has been the SEC's historical spending on data governance and IT management services over the past five years?

Analyzing the SEC's historical spending on data governance and IT management services over the past five years would require accessing and aggregating data from sources like the USASpending.gov database or the SEC's own budget and financial reports. This would involve filtering for relevant NAICS codes (like 541513, 541512, 541611) and keywords related to data governance, IT support, and management consulting. Such an analysis would reveal trends in spending, identify major contractors, and provide context for the current $2.36 million award, indicating whether this represents an increase, decrease, or stable level of investment in these areas.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Facilities Management Services

Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › IT AND TELECOM - APLLICATIONS

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Solicitation ID: 50310224Q0090

Offers Received: 4

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 10721 BALANTRE LN, POTOMAC, MD, 20854

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, Indian (Subcontinent) American Owned Business, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $4,180,956

Exercised Options: $2,360,354

Current Obligation: $2,360,354

Actual Outlays: $1,301,537

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Parent Contract

Parent Award PIID: 50310223A0013

IDV Type: BPA

Timeline