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Discussion: Independent Government Cost Estimate (IGCE)aFrom the e-Activity, determine the three primary purposes of cost estimates.

Discussion: Independent Government Cost Estimate (IGCE)aFrom the e-Activity, determine the three primary purposes of cost estimates. Predicttwo issues that could arise if a cost estimate is not conducted properly or at all.(Dr. Vic’sTips,spend some time discussing whyIndependent Government Cost Estimates should bebased on several factors including, past government purchases as well as currentreasonable market prices. Then discuss the three primary purposes of cost estimate aslisted on p.p. 19-20 of our Compton textbook. Please do not just list the three purposes,you will need to list and explain them. Also, list and explain two problems that couldarise from improper cost estimating or no cost estimate at all. Plan to reach at least 350words on this portion of the DB. Again, see Feldman and Keys textbook p.p. 268-271 formore on Price and Cost Evaluation, and review all of Chapter 2 of our Compton textbookas well for information specific to IGCEs). Also, as the e-Activity and instructions abovestate, you will need to visit the FBO and GSA Advantage websites – please do so andmake it evident within your DB response.b)Examine the history of the FAR and analyze some of the events that contributed tothe current structure. Determine the types of national events that have improved the FAR.Then, provide one recommendation to further improve the FAR that benefits thecollective business community.(Dr. Vic’s Tips,here you will want to focus specificallyon material from our Feldman and Keys textbook, chapter 1, sec. 1.1 to 1.7, p.p. 1-10,you will see that the roots of FAR extend as far back as the post WWII era and wereformally adopted in 1984. Please discuss this information in your own words from

 
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