What’s on the Federal Horizon for FY21 A Look at Procurement Forecasts

Wondering what contracts might be coming up for the new fiscal year? Want to know how to find out? Public Law 100-656, the Business Opportunity Development Reform Act of 1988, amended the Small Business Act to place new emphasis on acquisition planning. This law requires agencies to compile and make available projections of contracting opportunities for each fiscal year. These compilations are known as procurement forecasts.

Procurement forecasts often include the project name, NAICS codes, dollar range, set-aside type, planned solicitation release (by quarter) and even the contracting officer that will be responsible for the solicitation. Knowing this information allows businesses to form their business teams and to ensure that all needed certifications are in place.

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