This Purchase Order contract for IT Software was awarded in FY2018 on July 25, 2018 to REAL TIME INNOVATION by Dahlgren Division. There have been $24.8k in obligations to date with a ceiling value of $24.8k, showing a 100% burn rate so far on the contract. The contract was not competed under any preference program with 1 offer received. We expect a 1 year duration with ultimate completion date of September 13, 2019.
REAL TIME INNOVATION is a contractor located in CA, doing primarily Aerospace & Defense > Research and Development work for Navy. The company receives $10.3M annually in federal awards (as of FY2020). Also, they have shown success winning No/Limited Bias contracts concentrated mainly on a singular customer focused portfolio.
Purchase orders offer the Federal Government an avenue to streamline smaller purchases. Compared to the typical procurement process, where a requirement moves through several milestones before award, purchase orders allow for a quick turnaround to fulfill commodity and service needs. The total value of a transaction is the primary prerequisite for the use of purchase orders. In more familiar terms, purchase orders resemble a trip to a local retail store to buy a few items.
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