US Agencies Slowly Cutting Riskiest Contracts, OMB Says

Law360, New York (July 12, 2011, 4:33 PM EDT) -- Federal agencies are slowly shifting away from handing out the riskiest kinds of contracts, spending more than $1 billion less on time-and-materials and labor-hours contracts in 2010 than they did in 2009, the White House Office of Management and Budget said Friday. 

In a report to Congress, the OMB's Office of Federal Procurement Policy said agencies committed $28 billion to those kinds of contracts — considered the biggest financial risks in contracting — in 2010, and that the decrease may have been even greater due to...
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