SEC Awards $5M for IT Quality Assurance Services to CONVISO-V LLC

Contract Overview

Contract Amount: $5,050,103 ($5.1M)

Contractor: Conviso-V LLC

Awarding Agency: Securities and Exchange Commission

Start Date: 2022-08-02

End Date: 2025-08-31

Contract Duration: 1,125 days

Daily Burn Rate: $4.5K/day

Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES

Number of Offers Received: 1

Pricing Type: LABOR HOURS

Sector: IT

Official Description: INDEPENDENT QUALITY ASSURANCE AND QUALITY CONTROL SUPPORT SERVICES

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20549

State: District of Columbia Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $5.1 million to CONVISO-V LLC for work described as: INDEPENDENT QUALITY ASSURANCE AND QUALITY CONTROL SUPPORT SERVICES Key points: 1. Contract awarded for independent quality assurance and control support. 2. CONVISO-V LLC secured the $5.05M contract. 3. The contract falls under Computer Systems Design Services (NAICS 541512). 4. Services are for the Securities and Exchange Commission (SEC) in Washington D.C.

Value Assessment

Rating: good

The contract value of $5.05M for a duration of approximately 3 years appears reasonable for specialized IT quality assurance services. Benchmarking against similar contracts for independent QA/QC support in the federal IT sector would provide a more precise assessment.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under 'FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES,' indicating a competitive process but with specific source exclusions. This method aims for fair pricing while potentially limiting the pool of bidders.

Taxpayer Impact: Taxpayer funds are utilized for essential IT oversight services, ensuring the SEC's systems are robust and reliable, which is a necessary investment for government operations.

Public Impact

Ensures integrity and reliability of SEC's IT systems. Supports regulatory functions through quality IT infrastructure. Enhances cybersecurity posture by identifying potential vulnerabilities. Contributes to efficient government operations through effective technology.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for limited competition due to source exclusions.
Reliance on labor hours can lead to cost overruns if not managed tightly.

Positive Signals

Focus on critical IT quality assurance.
Long-term contract provides stability for services.
Awarded to a single entity for focused support.

Sector Analysis

This contract falls within the IT services sector, specifically focusing on computer systems design and quality assurance. Federal spending in this area is substantial, driven by the increasing reliance on technology for government operations and the need for robust cybersecurity and system integrity.

Small Business Impact

The data indicates this contract was not awarded to a small business (SB flag is false). Further analysis would be needed to determine if small businesses were subcontracting opportunities within this award.

Oversight & Accountability

The Securities and Exchange Commission is responsible for overseeing this contract. Standard government oversight mechanisms for contract performance, quality control, and financial management are expected to be in place.

Related Government Programs

Computer Systems Design Services
Securities and Exchange Commission Contracting
Securities and Exchange Commission Programs

Risk Flags

Potential for reduced competition due to source exclusions.
Contract type is labor hours, requiring diligent monitoring.
Small business participation is not indicated.
Benchmark data (BR) lacks clear definition for analysis.

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $5.1 million to CONVISO-V LLC. INDEPENDENT QUALITY ASSURANCE AND QUALITY CONTROL SUPPORT SERVICES

Who is the contractor on this award?

The obligated recipient is CONVISO-V 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 $5.1 million.

What is the period of performance?

Start: 2022-08-02. End: 2025-08-31.

What is the specific impact of the 'exclusion of sources' on the final price and quality of services received?

Excluding certain sources, even in a full and open competition, can limit the bidder pool. This might reduce price competition, potentially leading to a higher price than if all potential vendors could participate. The impact on quality is less direct but could occur if the excluded sources possessed unique capabilities or competitive advantages that are now unavailable.

How does the benchmark price of $4,489 (BR) compare to the total contract value and duration?

The benchmark value of $4,489 is unclear in its context (e.g., per hour, per day, or a different metric). Without knowing what this benchmark represents, it's impossible to accurately compare it to the $5.05M total contract value over 1125 days. A clear definition of the benchmark unit is needed for meaningful analysis.

What are the key performance indicators (KPIs) used to measure the effectiveness of CONVISO-V LLC's quality assurance support?

Effective measurement of QA/QC support typically involves KPIs such as defect detection rates, reduction in post-deployment issues, adherence to testing schedules, accuracy of test case execution, and timely reporting of findings. The specific KPIs would be detailed in the contract's Performance Work Statement (PWS) and are crucial for assessing the contractor's value.

Industry Classification

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

Product/Service Code: QUALITY CONTROL, TEST, INSPECTION › QUALITY CONTROL SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Offers Received: 1

Pricing Type: LABOR HOURS (Z)

Evaluated Preference: NONE

Contractor Details

Address: 1204 E MAIN ST STE 300, LURAY, VA, 22835

Business Categories: Asian Pacific American Owned Business, Category Business, Corporate Entity Not Tax Exempt, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $5,050,103

Exercised Options: $5,050,103

Current Obligation: $5,050,103

Actual Outlays: $5,050,103

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED

Parent Contract

Parent Award PIID: 75N98120D00130

IDV Type: GWAC

Timeline