Dictionary of Procurement Terms

A project delivery strategy in which construction starts before the design is completed.

Established in 1976 under the Office of the Federal Procurement Policy Act, the FAI is charged with fostering and promoting the development of a federal acquisition workforce. FAI facilitates and promotes career development and strategic human capital management for the acquisition workforce.

A set of principles that governs the purchase of goods and services by U.S. federal government executive agencies.

An independent U.S. federal agency charged with regulating interstate and international communications by wire, cable, satellite, radio, and television in all states, U.S. territories, and the District of Columbia.

The shortfall created when the amount spent by the U.S. government exceeds the total revenues collected for a specific fiscal year.