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Requirement Delivery
A contract that provides for an indefinite quantity of services over a fixed period of time
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Requirements Analysis
Value analysis applied to
the development of specifications to eliminate
commodities that are not cost effective.
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Requirements Contract
A contract used to order
only the materials or services actually
required during a contract term. An indefinite
quantity contract for frequently used goods or
services. See also: Open-End Contract, Price
Agreement, Blanket Order.
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Requirements Determination
A method used to
assess what is needed, when it is needed,
and how much is needed. Such methods may
include reviewing past usage of a commodity,
estimating future need, reviewing program
objectives, analyzing trends, and performing market and demand analyses using software
or other forecasting tools with the objective of
satisfying the need.
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Requisition
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Requisitioner
Anyone who initiates a request for
goods or services.
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Rescission of Contract
The termination or
cancellation of a contract to bring all parties,
to the degree possible, back to their position
before entering into the contract.
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Research and Development (R&D)
A process of
scientific discovery and application of
knowledge in which new products are created
and uses are found for them.
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Residency Preference
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Residual Value
The estimated value, or salvage
value, of a fixed asset at the end of their
useful life or lease term.
