DOI awards $316K for HR consulting to Economic Systems Inc. for retirement calculator funding

Contract Overview

Contract Amount: $316,299 ($316.3K)

Contractor: Economic Systems Inc

Awarding Agency: Department of the Interior

Start Date: 2024-03-22

End Date: 2026-06-30

Contract Duration: 830 days

Daily Burn Rate: $381/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: FHR RETIREMENT CALCULATOR BASE FUNDING

Place of Performance

Location: DENVER, JEFFERSON County, COLORADO, 80225

State: Colorado Government Spending

Plain-Language Summary

Department of the Interior obligated $316,298.75 to ECONOMIC SYSTEMS INC for work described as: FHR RETIREMENT CALCULATOR BASE FUNDING Key points: 1. The contract value is $316,298.75 for HR consulting services. 2. Economic Systems Inc. is the sole awardee. 3. The contract is for a duration of 830 days. 4. The service falls under Human Resources Consulting Services (NAICS 541612).

Value Assessment

Rating: fair

The contract value of $316,298.75 for HR consulting services appears reasonable for the scope. Benchmarking against similar contracts for retirement calculator development and HR consulting would provide a clearer picture of value.

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. This method generally leads to better price discovery and potentially lower costs for the government.

Taxpayer Impact: The use of full and open competition aims to ensure taxpayer funds are used efficiently by securing competitive pricing for necessary HR consulting services.

Public Impact

Ensures continued support for the FHR Retirement Calculator. Supports the Bureau of Land Management's HR functions. Provides specialized consulting services to the Department of the Interior.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of specific performance metrics in provided data.
Potential for scope creep in consulting services.

Positive Signals

Awarded under full and open competition.
Firm Fixed Price contract type can control costs.

Sector Analysis

This contract falls within the professional services sector, specifically HR consulting. Spending in this area can vary widely based on agency needs and project complexity. Benchmarks for similar HR consulting contracts are essential for evaluating cost-effectiveness.

Small Business Impact

The data does not indicate if small businesses were involved in the competition or subcontracting. Further analysis would be needed to determine small business participation.

Oversight & Accountability

The contract is managed by the Bureau of Land Management, a sub-agency of the Department of the Interior. Oversight would involve monitoring contract performance and adherence to terms.

Related Government Programs

Human Resources Consulting Services
Department of the Interior Contracting
Bureau of Land Management Programs

Risk Flags

Contract duration is significant (830 days).
Sole awardee may limit future competitive opportunities.
NAICS code 541612 is broad; specific services need review.
No indication of performance metrics in the summary.

Frequently Asked Questions

What is this federal contract paying for?

Department of the Interior awarded $316,298.75 to ECONOMIC SYSTEMS INC. FHR RETIREMENT CALCULATOR BASE FUNDING

Who is the contractor on this award?

The obligated recipient is ECONOMIC SYSTEMS INC.

Which agency awarded this contract?

Awarding agency: Department of the Interior (Bureau of Land Management).

What is the total obligated amount?

The obligated amount is $316,298.75.

What is the period of performance?

Start: 2024-03-22. End: 2026-06-30.

What specific deliverables are expected from Economic Systems Inc. for the FHR Retirement Calculator funding?

The provided data does not detail specific deliverables. Typically, HR consulting for a retirement calculator might include system development, user training, data migration, or ongoing maintenance and support. A thorough review of the Statement of Work (SOW) would clarify the exact expected outcomes and milestones.

What is the risk associated with the firm fixed price contract type for this HR consulting service?

A firm fixed price contract is generally advantageous for cost control. However, for consulting services where scope can be fluid, there's a risk that the contractor may cut corners to maintain profitability if the initial price was underestimated, or the government may overpay if the scope is less than anticipated. Clear SOW and change management are crucial.

How effective is the FHR Retirement Calculator in meeting its intended purpose?

The provided data does not offer information on the effectiveness of the FHR Retirement Calculator itself. This contract focuses on funding and support for the calculator. Effectiveness would be measured by user adoption, accuracy of calculations, and its contribution to employee financial planning and agency HR efficiency.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Human Resources Consulting 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

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 8521 LEESBURG PIKE STE 450, VIENNA, VA, 22182

Business Categories: Category Business, Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $789,006

Exercised Options: $316,299

Current Obligation: $316,299

Actual Outlays: $278,812

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: YES

Parent Contract

Parent Award PIID: GS02F0092T

IDV Type: FSS

Timeline