Lockheed Martin Sets Industry Benchmark as Early Adopter of NCMA Contract Management Standard and Contract Management Body of Knowledge
Lockheed Martin (NYSE: LMT), Lockheed Martin, a leading global aerospace and defense company, is one of the first prime contractors to adopt the cutting-edge National Contract Management Association (NCMA) Contract Management Standard (CMS) and Contract Management Body of Knowledge (CMBOK). With this adoption, Lockheed Martin reiterates its unwavering commitment to excellence in contract management, ensuring that its workforce possesses the necessary competencies that align seamlessly with both the federal government and institutions of higher education, which have also embraced the CMS.
The NCMA Contract Management Standard equips organizations with a structured approach to contract management, facilitating improved communication, streamlined processes, and enhanced risk management. As Lockheed Martin integrates this CMS into its operations, the company further strengthens its ability to deliver unparalleled value to customers and stakeholders.
By proactively adopting this groundbreaking standard, Lockheed Martin sets a new industry benchmark, showcasing its dedication to fostering enhanced communication, transparency, and efficiency within its contract management processes.
"At Lockheed Martin, we continuously strive to be at the forefront of innovation and industry-leading practices. Our decision to be an early adopter of the NCMA CMS and the CMBOK is a testament to our commitment to delivering exceptional results for our customers," said Debra Scheider, Vice President of Corporate Contracts for Lockheed Martin. "By implementing this standard, we enhance our ability to drive collaborative and successful partnerships, while maintaining the highest standards of integrity and compliance.
Kraig Conrad, CEO of NCMA, expressed his gratitude for Lockheed Martin's adoption of the NCMA CMS and CMBOK, stating, "Lockheed Martin as one of the early adopters demonstrates commitment to their workforce and customers. This moves our profession forward on a shared vision of fostering a robust connection between industry and government through a common language.
The U.S. Office of Federal Procurement Policy (OFPP) announced the new classification in a January 19 memo, stating that the CMS will become the foundation of a new contracting training system for all government agencies effective February 1, 2023. The new Federal Acquisition Certification in Contracting (FAC-C) (Professional) will now align with the Department of Defense framework (DAWIA), which is also based on the CMS.
The American National Standards Institute (ANSI)-approved third edition of the NCMA CMS is recognized globally as the preeminent standard in the profession. It serves as the basis for hiring and training frameworks as well as the NCMAs ANSI National Accreditation Board (ANAB)-accredited Certified Contract Management Associate (CCMA) certification. The CMBOK is based on the CMS and serves as the basis for NCMAs ANAB-accredited Certified Professional Contracts Manager (CPCM) certification.
The National Contract Management Association (NCMA), which was founded in 1959 and is the worlds leading association in the field of contract management. The organization, which has over 18,000 members, is dedicated to the professional growth and educational advancement of procurement and acquisition personnel worldwide. NCMA strives to serve and inform the profession and industry it represents and to offer opportunities for the open exchange of ideas in neutral forums. To find out more, please visit www.ncmahq.org.
About Lockheed Martin Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Please follow @LMNews on Twitter for the latest announcements and news across the corporation.
National Contract Management Association
View source version on newsdirect.com: https://newsdirect.com/news/lockheed-martin-sets-industry-benchmark-as-early-adopter-of-ncma-contract-management-standard-and-contract-management-body-of-knowledge-270327562
National Contract Management Association
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Research Raptor journalist was involved in the writing and production of this article.