Ideally, the contractor should monitor the VECP process to ensure both the contractor and their client (CO) are able to obtain the benefits of their efforts. Further, the contractor should monitor and obtain reports on the acceptance and return rates for various VECP's. If the contractor is using the basic single use option, they will need to learn to gather the generate information and perform these actions using a spreadsheet and other options. They should do this right away as the reporting is limited and disappears once another VECP is presented, unless the contractor moves to the enhanced system. If the contractor is using the enhanced systems, the monitoring system is included for all VECP's credits on the system.

Enhanced Options

To help you obtain the benefits of obtaining an accepted VECP in the enhanced system. we include reports of progress with e-mail notifications of potential issues.

You have several reporting options. We recommend you examine these on a regular basis to learn how they help you. Further, we also recommend you let us know how we can increase the value of the enhanced system for you.

Why monitor?

If you purchased a bond or CD and it failed, would you want to know? If you had future money to invest, I would think so. The number one failure of any decision based process is a lack of verification that the process acquired a result that was acceptable. The result may not be that expected, and it does not matter. The only issue is that the result was acceptable, and people learned from it. For example, one firm thought it would attain a $5 million dollar decrease in costs. Was the result acceptable? Only the final assessment can tell. Upon review, the costs were not decreased much, but the quality acceptance was such that a $2.1 million increase in profit was attained. Success? Perhaps, as the original proposal only had an increased profit expectation of $623,000 due to the cost decreases. Did it fail? Monitoring was they key to find out if it did. Actual is the issue, not projection. Hope we are not preaching.

How much does data count?

In the end, this is the total basis for everything. We know of several accepted million dollar VECPs that were submitted with a felt tip pen on the back of a beer stained napkin, a hand shake, and less. However, this is really rare. In most rejected cases, lack of data was cited as the main reason. Our systems are designed to help you meet the data issues. However, bottom line, convince the CO, and you have a sale. A caveat, you can convenience the CO, but if they get second guessed, you do not want to end up in a dispute. Again, using our systems takes care to meet both sides.