GovCon Acronym Decoder
Government contracting runs on shorthand. Search any acronym and get a plain-English definition, when you will run into it, whether you need one, and where it comes from.
Search acronyms
3 of 172 terms matching "TCO"
Level of Effort
Work priced and measured by hours or staff-years applied rather than by a specific deliverable outcome.
When you see it
On staffing and support contracts, often paired with T&M or CPFF.
Do you need it
Track hours precisely. Under-delivered hours can mean money back to the government.
Where it comes from
FAR 16.306(d).
Performance Work Statement
A statement of work written in terms of outcomes and measurable standards rather than prescribed steps. It gives you freedom in how you deliver.
When you see it
On performance-based service contracts, usually paired with a QASP.
Do you need it
Your approach should show you can hit the standards, not just repeat them back.
Where it comes from
Contracting office, per FAR Subpart 37.6.
Knowing the words is step one
The free 20-module Beginner Series walks you from registration through your first award. Pro adds the tools, resources, and community support.