Learning Lab 5 - Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds.
Course

Learning Lab 5 - Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds.

  • Date: 11/13/2025
  • Start Time: 1:00 PM Eastern Time
  • End Time: 3:00 PM Eastern Time
  • Instructor: Ms. Penny M Owens, NIGP-CPP, CPPO
    Purchasing Agent
    Ms. Penny M Owens, NIGP-CPP, CPPO
    — Fax: 865-215-2277
    Penny Owens, NIGP-CPP, CPPO has over thirty years’ experience in public procurement, both local and federal government, which covers nearly all aspects of procurement. She spent 16 years at the Oak Ridge National Lab in procurement and the past seventeen years at the City of Knoxville in Tennessee. She currently serves as the City’s Purchasing Agent, leading the Purchasing Division, which includes the City’s surplus property sales and the Small Business and Diversity Business Outreach Office. Penny holds a bachelors’ degree in Business, an NIGP-Certified Procurement Professional (NIGP-CPP) certification, and a Certified Public Procurement Officer (CPPO) certification. Penny is an active member of the East Tennessee Purchasing Association (ETPA), the Tennessee Association of Public Purchasing (TAPP), and NIGP, The Institute for Public Procurement. Penny is a past President of both ETPA and TAPP and currently serves as a committee chair for both chapters. She is a member of NIGP’s Consulting team and is a member of the Radio NIGP staff. ETPA awarded Penny the 2016 Buyer of the Year and Volunteer of Year award, the 2021 Manager of the Year award, and was recognized as NIGP’s Volunteer of the Year in 2023.
    , Mr. Terry L. McKee, NIGP-CPP, CPPO, C.P.M. CPCP, CPPB, MPA
    Procurement Director
    Mr. Terry L. McKee, NIGP-CPP, CPPO, C.P.M. CPCP, CPPB, MPA
    — Phone: 865-403-1133 Ext: 1134 — Fax: 865-594-8858
    Terry McKee, MPA, CPPO, CPPB, NIGP-CPP, C.P.M., CPCP, is a consultant and experienced leader with 37 years in the procurement profession. Terry joined NIGP Consulting Services at its inception in 1995. He has been the Procurement Director at Knoxville’s Community Development Corporation-the public housing and redevelopment authority for the City of Knoxville and Knox County, Tennessee since 2005. Prior to that he served as head of procurement for Knox County government and Knox County Schools. Terry shares his extensive experience and expertise with public and private industry through numerous roles in the industry. As a passionate advocate for the procurement profession, Terry possesses a broad and deep range of expertise in numerous areas of public procurement best practices, professional development and leadership, and overall procurement transformation. Terry was named NIGP’s Integrity Award winner in 2025, Distinguished Service Award in 2022, Purchasing Manager of the Year in 2017, the East Tennessee Purchasing Association’s Procurement Manager of the Year in 2017, and in 1993 received the organization’s Purchasing Professional of the Year award. In 2013, Terry received NIGP’s “Spirit of NIGP” award. He co-shared NIGP’s Innovation of the Award in 2007 for business diversity activities. Terry has served in dozens of task forces and committees in his 37 years of volunteer leadership to the profession, including local, state and national roles. Terry has provided professional services to cities, counties, special districts and entities throughout North America.
  • Level: Foundation
  • Format: Virtual Instructor-Led
  • Contact Hours: 2
Mastering cost analysis, price analysis, and independent cost estimates are vital skills for procurement professionals. NIGP’s Learning Lab 5 guides learners through these essential aspects with experts Terry L. McKee and Penny M Owens. This activity-based learning experience delves into federal grant funds' requirements, exploring practical applications and when/why analyses are necessary. By honing these skills, professionals can enhance their procurement expertise, unlocking new career opportunities and contributing significantly to their personal growth within the industry.
Pricing:
PriceCostBeginsEnds
Learning Lab 5 111325: Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds. (Member)$89.00 11/13/2025
Learning Lab 5 111325: Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds. (Non-Member)$189.00 11/13/2025
Learning Lab 5 111325: Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds. (Member) $89.00
Learning Lab 5 111325: Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds. (Non-Member) $189.00
(prices valid until Nov 13, 2025)

Objectives

By the end of this lab, learners will be able to:

  • Explain what cost and price analyses and independent cost estimate are
  • Determine when the analyses and independent cost estimates are required
  • Perform basis analyses and cost estimates or review those submitted 

Intended Audience

This offering is targeted to individuals who meet or exceed the following professional demographics:  

  • Entry-level public procurement and central warehouse professionals who serve as assistants, coordinators, buyers, or equivalent functions within their respective entities.   

  • Non-procurement managers and supervisors who are responsible for either the procurement function or staff who provide procurement functions under delegated authority.   

  • Professionals who are employed by governing entities and special authorities (such as K-12 and higher education, publicly-owned utilities, transportation providers, and other publicly-funded or created organizations) that either serve within or manage the procurement function.  

  • Suppliers or representatives of suppliers seeking to understand the public procurement function from a holistic level, including the policies, standards, and procedures by which public entities must function.  

Miscellaneous

Payment Information

  • Register online with credit card
  • Register online and upload a Purchase Order
  • Register by fax and download the print & fax form

*FORM OF PAYMENT MUST ACCOMPANY REGISTRATION FORM FOR ORDER TO BE PROCESSED

Methods of Payment Accepted: Check (make checks payable to NIGP), Purchase Orders (via print and fax form or online), and Credit Cards (Master Card, Visa, and American Express).

If paying by check, please make check payable to NIGP and send payment to: 
NIGP, Attn: Seminar Registration 
12007 Sunrise Valley Drive, Suite 110 
Reston, VA 20191 
 

Sessions

Cancellation Policy

Registration and payment must be received 24 hours prior to the course start date. After this time, registrations will be based on space availability.  A full refund, less a $75 administrative fee will be given for cancellations made in writing 31+ days prior to the seminar date by emailing RegistrationInfo@nigp.org. No refunds are given for cancellations received within 24 hours of the seminar start date. There are no refunds for no-shows. If the seminar is cancelled for any reason, NIGP's liability is limited to the registration fee only.  

Attendee substitutions within the same agency may be done at any time with email notification to NIGP. If attending via scholarship, please provide documentation verifying the scholarship issuer's name and contact information in lieu of payment information. 

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Learning Lab 5 - Understanding Cost Analysis, Price Analysis and Independent Cost Estimate Requirements that accompany federal grant funds.

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