SEC's $158M FSSP Document Reconstruction Contract Awarded to Amentum Services, Inc
Contract Overview
Contract Amount: $158,031,881 ($158.0M)
Contractor: Amentum Services, Inc.
Awarding Agency: Securities and Exchange Commission
Start Date: 2012-06-04
End Date: 2016-08-02
Contract Duration: 1,520 days
Daily Burn Rate: $104.0K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 6
Pricing Type: COST PLUS FIXED FEE
Sector: IT
Official Description: RECONSTRUCTED THE CORRUPTED FSSP CONVERSION DOCUMENT
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20549
Plain-Language Summary
Securities and Exchange Commission obligated $158.0 million to AMENTUM SERVICES, INC. for work described as: RECONSTRUCTED THE CORRUPTED FSSP CONVERSION DOCUMENT Key points: 1. The contract value of $158 million for document reconstruction services is substantial. 2. Amentum Services, Inc. secured this contract, indicating their capability in specialized IT services. 3. The primary risk lies in the potential for cost overruns given the 'Cost Plus Fixed Fee' contract type. 4. This falls under the IT sector, specifically computer systems design services.
Value Assessment
Rating: fair
The contract's pricing structure is Cost Plus Fixed Fee, which can lead to higher costs than fixed-price contracts if not managed carefully. Benchmarking against similar IT service contracts is difficult without more specific cost breakdowns.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, suggesting a competitive bidding process. However, the 'Cost Plus Fixed Fee' structure may not always yield the most cost-effective outcome for the government.
Taxpayer Impact: Taxpayers bear the risk of potentially higher costs due to the 'Cost Plus Fixed Fee' structure, although full and open competition aims to mitigate this.
Public Impact
Ensures the integrity and accessibility of critical financial data through document reconstruction. Supports the operational continuity of the Securities and Exchange Commission. Highlights the government's reliance on specialized IT services for data management and recovery.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Cost Plus Fixed Fee structure
- Potential for cost overruns
- Reliance on a single vendor for critical data reconstruction
Positive Signals
- Awarded under full and open competition
- Contract supports critical government functions
Sector Analysis
This contract falls within the IT sector, specifically Computer Systems Design Services. Government spending in this area often involves complex projects requiring specialized expertise, with costs varying significantly based on project scope and duration.
Small Business Impact
The data indicates this contract was awarded to Amentum Services, Inc. and does not specify any subcontracting to small businesses. Further analysis would be needed to determine small business participation.
Oversight & Accountability
The Securities and Exchange Commission is the contracting agency. Oversight would focus on ensuring the contractor meets performance requirements and manages costs effectively under the 'Cost Plus Fixed Fee' arrangement.
Related Government Programs
- Computer Systems Design Services
- Securities and Exchange Commission Contracting
- Securities and Exchange Commission Programs
Risk Flags
- Cost Plus Fixed Fee contract type
- Potential for cost overruns
- Lack of detail on small business participation
- Root cause of document corruption not specified
Tags
computer-systems-design-services, securities-and-exchange-commission, dc, delivery-order, 100m-plus
Frequently Asked Questions
What is this federal contract paying for?
Securities and Exchange Commission awarded $158.0 million to AMENTUM SERVICES, INC.. RECONSTRUCTED THE CORRUPTED FSSP CONVERSION DOCUMENT
Who is the contractor on this award?
The obligated recipient is AMENTUM SERVICES, 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 $158.0 million.
What is the period of performance?
Start: 2012-06-04. End: 2016-08-02.
What specific factors contributed to the initial corruption of the FSSP conversion document, and what measures are in place to prevent recurrence?
The provided data does not detail the cause of the document corruption. Effective oversight would involve the SEC investigating the root cause of the data integrity issue and implementing robust data management protocols and backup systems to prevent future occurrences.
How does the 'Cost Plus Fixed Fee' structure balance contractor incentives with taxpayer protection for this specific project?
The 'Cost Plus Fixed Fee' structure allows the contractor to recoup all allowable costs plus a predetermined fixed fee. While it incentivizes the contractor to complete the work, it shifts cost risk to the government. Effective oversight is crucial to ensure costs remain reasonable and the fixed fee adequately compensates for the service.
What is the long-term value proposition of reconstructing these documents beyond immediate operational needs?
Reconstructing corrupted documents ensures the long-term availability and integrity of critical financial data, which is essential for regulatory compliance, historical analysis, and potential legal proceedings. This preserves institutional knowledge and supports the SEC's mission to maintain fair and orderly markets.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services
Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › ADP AND TELECOMMUNICATIONS
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 6
Pricing Type: COST PLUS FIXED FEE (U)
Evaluated Preference: NONE
Contractor Details
Parent Company: AECOM (UEI: 153561212)
Address: 20501 SENECA MEADOWS PKWY STE 300, GERMANTOWN, MD, 20876
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $162,694,828
Exercised Options: $162,267,858
Current Obligation: $158,031,881
Contract Characteristics
Commercial Item: COMMERCIAL ITEM PROCEDURES NOT USED
Cost or Pricing Data: YES
Parent Contract
Parent Award PIID: GS00Q09BGD0012
IDV Type: GWAC
Timeline
Start Date: 2012-06-04
Current End Date: 2016-08-02
Potential End Date: 2016-08-02 00:00:00
Last Modified: 2020-08-18
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