Government Contracting Glossary
Master the language of government contracting. Browse 498 terms covering regulations, contract types, procurement processes, and more.
Showing 1–10 of 10 terms
LCCELIFECYCLE (Cost Estimate)
An LCCELIFECYCLE cost estimate predicts all costs associated with a product or service throughout its entire lifespan, crucial for government contractors.
LCCLIFECYCLE (Cost)
LCCLIFECYCLE (Cost) refers to the total cost of an asset or system over its entire lifespan, encompassing all direct and indirect expenses.
LDRLABOR (Distribution Report)
The LDRLABOR report details how labor costs are allocated across different projects, contracts, and cost objectives, crucial for DCAA compliance.
Lh Labor Hour
Lh Labor Hour refers to one hour of direct labor charged to a specific contract. It is a fundamental unit for pricing and tracking work.
LOA (Letter Of Agreement)
An LOA is a document outlining an agreement between two or more parties in government contracting, often preceding a formal contract.
LOE (Level of Effort)
LOE in government contracts defines the total labor hours or days required to perform a specific task or project, critical for pricing and planning.
LPTA (Lowest Price Technically Acceptable)
LPTA is a source selection process where the contract is awarded to the responsible offeror with the lowest priced, technically acceptable proposal.
LRE (Launch And Recovery Element)
The Launch and Recovery Element (LRE) is a critical component in unmanned systems contracts, detailing infrastructure and personnel for deployment and retrieval.
LRIP (Low-Rate Initial Production)
LRIP is a limited-quantity production run of a new defense system to ensure production readiness before full-scale production.
LVCLIVE (Virtual And Constructive)
LVCLIVE refers to simulated environments used for training, testing, and analysis. Contractors use LVCLIVE for realistic simulations.