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Firm Fixed Price (FFP) contracts are integral to the Adaptive Acquisition Framework, offering a stable price for agreed-upon deliverables without adjustments for the contractor's costs. This contract type provides budget certainty and incentivizes efficient performance, as the contractor assumes the risk of cost overruns. The Adaptive Acquisition Framework incorporates FFP contracts to enhance procurement agility and manage costs effectively, particularly for projects with clear requirements and low risk of change. To fully understand how FFP contracts fit into this flexible acquisition approach, detailed guidelines and resources are available for further study.
Source: https://publiccontractinginstitute.com/event/dod-adaptive-acquisition-framework-virtual-class-series-2022-01-05/
