Dictionary of Procurement Terms

Factual information required by a contract that is organized for analysis (e.g., technical data, cost data, administrative report).

1. The actual contractual work product as defined in the statement of work; the desired goods or services described in a statement of requirement, specifications, scope of work, or other similar solicitation component to be provided under the contract. (Australia) 2. The completion of a milestone or the accomplishment of a task that can be measured and verified and may be a unit by which a contractor or consultant may be paid. See also: Milestone.