WHY SET A CONTRACT GOAL?
Contract Goals are set to address past and current discrimination in the marketplace and help counterbalance barriers to the participation of minority-, women-, and disadvantaged business enterprises in contracts. Your contract goal should be based on verifiable procurement and market information to ensure its attainable. It should be developed using a consistent methodology to ensure the goal is defensible.
HOW TO SET A CONTRACT GOAL
Setting a contract goal requires several items, including a detailed cost estimate of the work to performed, or goods purchased, identifying your marketplace, and determining the availability of both DBEs and non-DBEs in your marketplace. Once you have these items, you will be able to develop a contract goal that is fundamentally sound and accurate.
Once you have gathered the source information, you can now arrive at a final contract goal. Whether on paper, spreadsheet, or online system, the mathematics and process are the same. You and others will be able to replicate and repeat the contract goal calculations, which leads to greater transparency in the process.
