PSC Issues White Paper on Addressing Contract Closeout Challenges


Arlington, Va. (April 21, 2020) Today, the Professional Services Council (PSC) released a white paper that summarizes the challenges and makes sensible and readily achievable recommendations for additional steps that can be taken to accelerate the contract closeout process.

“Both government and industry suffer from numerous challenges in completing the very last item in the federal contract life-cycle – contract closeout,” said Alan Chvotkin, PSC’s Executive Vice President and Counsel. “While there are both contractual and financial reasons for both government and industry to want to close out contracts, there are also administrative and personnel challenges in doing so. Through the work of PSC’s Contract Finance and Cash Flow Committee, we have prepared this white paper that identifies those hurdles and solutions,” he said.

Some of these contracts, even for professional and technology services firms, are more than a decade old. In other sectors of government contracting, some of these contracts are more than 20 years past the final performance of the work required. Several federal agencies are taking steps to streamline and further facilitate the closeout of contracts. Congress has also taken some initial steps to address the challenges being faced, but all stakeholders could certainly do more. Those actions are spelled out in the white paper. 

“The rewards to both government and industry from accelerating the contract closeout process are worth the small amount of effort to make it happen,” Chvotkin said. 


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Media Contact:
Pheniece Jones
Director, Media Relations 
703.875.8974
media@pscouncil.org 


About PSC: PSC is the voice of the government technology and professional services industry. PSC’s more than 400 member companies represent small, medium and large businesses that provide federal agencies with services of all kinds, including information technology, engineering, logistics, facilities management, operations and maintenance, consulting, international development, scientific, social, environmental services, and more. Together, the trade association’s members employ hundreds of thousands of Americans in all 50 states. Follow PSC on Twitter @PSCSpeaks. To learn more, visit www.pscouncil.org.