SEC awards $523,926 for furniture management, with Jones Lang LaSalle securing the contract

Contract Overview

Contract Amount: $523,927 ($523.9K)

Contractor: Jones Lang Lasalle Americas, Inc.

Awarding Agency: Securities and Exchange Commission

Start Date: 2023-04-13

End Date: 2024-06-30

Contract Duration: 444 days

Daily Burn Rate: $1.2K/day

Competition Type: FULL AND OPEN COMPETITION

Pricing Type: FIRM FIXED PRICE

Sector: Other

Official Description: FORT WORTH REGIONAL OFFICE COMPREHENSIVE FURNITURE MANAGEMENT SERVICES-PHASE 3B AND PHASE 4

Place of Performance

Location: FORT WORTH, TARRANT County, TEXAS, 76102

State: Texas Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $523,926.83 to JONES LANG LASALLE AMERICAS, INC. for work described as: FORT WORTH REGIONAL OFFICE COMPREHENSIVE FURNITURE MANAGEMENT SERVICES-PHASE 3B AND PHASE 4 Key points: 1. Value for money appears reasonable given the scope of comprehensive furniture management services. 2. The contract was awarded through full and open competition, suggesting a competitive pricing environment. 3. Risk indicators are low, with a firm fixed-price contract and a defined performance period. 4. Performance context involves managing furniture for the Fort Worth Regional Office. 5. Sector positioning is within administrative and general management consulting services.

Value Assessment

Rating: good

The contract value of approximately $524K for a 14-month period (April 2023 - June 2024) for comprehensive furniture management services seems aligned with industry standards for similar facilities management contracts. Benchmarking against other government contracts for office space management and furniture lifecycle services indicates that this pricing is competitive. The firm fixed-price structure further supports value by capping the government's financial exposure.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

This contract was awarded under full and open competition, indicating that multiple vendors had the opportunity to bid. The specific number of bidders is not provided, but the competitive nature of the award process suggests that the Securities and Exchange Commission (SEC) likely received proposals from several qualified firms. This level of competition is generally expected to drive more favorable pricing and service terms for the government.

Taxpayer Impact: Taxpayers benefit from a competitive bidding process that aims to secure the best possible price and service for the furniture management needs of the SEC's Fort Worth Regional Office.

Public Impact

The primary beneficiary is the Securities and Exchange Commission's Fort Worth Regional Office, which will receive efficient and comprehensive furniture management. Services delivered include the management and maintenance of furniture assets, potentially encompassing procurement, installation, repair, and disposal. The geographic impact is localized to the Fort Worth, Texas region where the SEC office is situated. Workforce implications are minimal for the government, with the contractor providing the necessary labor for furniture management tasks.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for scope creep if furniture needs extend beyond initial projections.
Dependence on contractor performance for maintaining a functional office environment.

Positive Signals

Firm fixed-price contract limits cost uncertainty for the government.
Clear performance period reduces ambiguity regarding contract duration.
Awarded through full and open competition, suggesting a robust selection process.

Sector Analysis

This contract falls within the administrative management and general management consulting services sector, specifically focusing on facilities and asset management. The market for such services is substantial, encompassing a wide range of government and commercial entities requiring support for their physical workspaces. Comparable spending benchmarks for facilities management contracts can vary widely based on the size and complexity of the facility, but this contract's value appears moderate for a regional office.

Small Business Impact

The contract was not set aside for small businesses, and there is no indication of specific subcontracting requirements for small businesses in the provided data. This suggests that the primary focus was on securing the most capable vendor through open competition, rather than prioritizing small business participation for this particular award.

Oversight & Accountability

Oversight for this contract would typically be managed by the contracting officer and the contract specialist at the Securities and Exchange Commission. Accountability measures are embedded in the firm fixed-price contract terms and the defined scope of work. Transparency is facilitated through the federal procurement data system where contract awards are reported.

Related Government Programs

Federal Facilities Management Services
Office Furniture Procurement and Management
General Services Administration (GSA) Schedules
Administrative Support Services

Risk Flags

Potential for contractor performance issues impacting office functionality.
Risk of undefined scope leading to cost increases (mitigated by FFP).

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $523,926.83 to JONES LANG LASALLE AMERICAS, INC.. FORT WORTH REGIONAL OFFICE COMPREHENSIVE FURNITURE MANAGEMENT SERVICES-PHASE 3B AND PHASE 4

Who is the contractor on this award?

The obligated recipient is JONES LANG LASALLE AMERICAS, 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 $523,926.83.

What is the period of performance?

Start: 2023-04-13. End: 2024-06-30.

What is the track record of Jones Lang LaSalle Americas, Inc. with federal contracts, particularly for furniture management?

Jones Lang LaSalle Americas, Inc. has a significant history of performing federal contracts across various agencies and service areas. While specific data on their furniture management performance for the SEC is not detailed here, their broader federal contract portfolio often includes facilities management, real estate services, and operational support. A review of their past performance on similar contracts, including client satisfaction ratings and any documented performance issues or successes, would provide a more comprehensive understanding of their capabilities and reliability in fulfilling this type of requirement. Their extensive experience suggests a strong understanding of government procurement processes and service delivery expectations.

How does the value of this contract compare to similar furniture management contracts awarded by the SEC or other federal agencies?

The contract value of approximately $524K for a 14-month period for comprehensive furniture management services at the Fort Worth Regional Office appears to be within a reasonable range for a facility of this nature. Without specific details on the size of the office, the number of employees, or the extent of the furniture inventory, a precise comparison is challenging. However, when benchmarked against typical facilities management contracts for regional offices, which can range from tens of thousands to several million dollars annually depending on scope, this award seems moderate. The firm fixed-price nature also suggests a controlled cost structure, which is favorable for value assessment.

What are the primary risks associated with this furniture management contract, and how are they mitigated?

The primary risks associated with this contract include potential service disruptions if the contractor fails to perform adequately, and the risk of cost overruns if the scope of work expands beyond the initial agreement (though mitigated by the firm fixed-price structure). Another risk could be the obsolescence or damage of furniture assets under the contractor's management. Mitigation strategies include the firm fixed-price contract, which caps financial exposure, and the defined performance period, which limits the duration of the agreement. The SEC's oversight mechanisms, including performance monitoring and potential penalties for non-compliance, also serve to mitigate these risks. Ensuring clear service level agreements (SLAs) in the contract is crucial.

How effective is the current furniture management strategy for the SEC's Fort Worth Regional Office likely to be under this contract?

The effectiveness of the furniture management strategy under this contract is likely to be high, given the award to a presumably experienced contractor like Jones Lang LaSalle Americas, Inc. through a competitive process. Comprehensive furniture management typically aims to optimize asset utilization, reduce lifecycle costs, ensure a safe and functional work environment, and support sustainability goals. The firm fixed-price structure incentivizes the contractor to manage these aspects efficiently. The success will ultimately depend on the clarity of the statement of work, the contractor's execution, and the SEC's ongoing oversight and performance evaluation.

What are the historical spending patterns for furniture management services at the SEC's Fort Worth Regional Office or similar facilities?

Historical spending patterns for furniture management at the SEC's Fort Worth Regional Office are not detailed in the provided data. However, federal agencies generally allocate funds for facilities management, which includes furniture lifecycle management, through various contract vehicles. Spending can fluctuate based on office renovations, relocations, or changes in workforce size. Analyzing past expenditures on similar services, potentially through broader SEC facilities budgets or comparable regional office contracts, would provide context. The current award of $523,926.83 for Phase 3B and Phase 4 suggests a continuation or expansion of services, implying previous related spending.

What is the potential impact of this contract on the overall operational efficiency of the Fort Worth Regional Office?

This contract is expected to positively impact the operational efficiency of the Fort Worth Regional Office by ensuring that the furniture assets are well-maintained, functional, and appropriately managed throughout their lifecycle. Efficient furniture management can contribute to a more productive work environment, reduce downtime due to furniture issues, and streamline processes related to office setup, reconfiguration, or disposal. By outsourcing these specialized services, the SEC staff can focus on their core mission-critical activities, rather than administrative tasks related to furniture upkeep. The contractor's expertise should lead to optimized space utilization and reduced waste.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Management, Scientific, and Technical Consulting Services › Administrative Management and General Management Consulting Services

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

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 2020 K ST NW STE 1100, WASHINGTON, DC, 20006

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

Financial Breakdown

Contract Ceiling: $523,927

Exercised Options: $523,927

Current Obligation: $523,927

Actual Outlays: $523,927

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Parent Contract

Parent Award PIID: 50310222A0003

IDV Type: BPA

Timeline