Now that Congress has at last passed the FY2024 Appropriations bill, federal agencies and program offices have clarity on their official funding levels for the remainder of the year. The first half of FY24 saw agencies operate under the constraints of funding ambiguities due to one Continuing Resolution after another.
Following appropriations passage, agencies and Program Management Offices across the federal government have only six months to spend an entire year’s worth of funding. Decisions will be made fast. All the new funding programs and solicitation opportunities that were locked in a holding pattern since last September will soon be released in large volumes.
What will you do to ensure your company is ready to serve these customers and capture new business?
Our Federal Strategy team developed a brief question list contractors can carry with them as they enter into their near-term customer conversations. Below this question list we have identified four action items for all contractors to consider as they develop their campaign plans.
- How should we think about what is real in terms of this year’s activity and what will likely be pushed further out?
- How do you expect the Pgo of your opportunities has changed?
- Did your project receive expected amounts of funding?
- Given the balance of the fiscal year how is your acquisition strategy expected to adapt with delayed funding approvals?
- How might we be of service helping your organization identify and tap into other possible funding sources to complete your vision for the opportunities in your portfolio?
- What is the best way for industry to meet you where you are right now and support your approach to acquisition?
Actions to take now:
- Identify definitive contracts, MACs, Agency IDIQs, or GWACs where your company has presence and can immediately make available your services and solutions.
- Identify alternative vehicles/sources your customers are not familiar with but through which they may access your capabilities
- Prepare for a rise in Small Business Set-Asides (SBSAs), including the various set-asides for socio-economically disadvantaged small businesses, to occur later in the fiscal year as August & September approach.
- Engage your network of previous teammates or strategic partners to strategize how you can respond collectively to the rapid release of requirements and tight information exchange windows between you and your customers.
The Chertoff Group‘s Federal Strategy Practice can assist your organization as you develop campaign plans and customer engagement strategies in light of this accelerated window of opportunity across the full landscape of upcoming quick-release DOD and Federal-Civilian agency needs.
Cameron Fegers is a Senior Associate in The Chertoff Group’s Federal Strategy practice. Reach out to the team via info@chertoffgroup.com
