What happens to contract performance data during the closeout phase?

During the contract closeout phase, performance data is summarized and archived for review. This process is vital for several reasons. Archiving the performance data allows for the retention of historical information that can be beneficial for future contracts. It serves as a reference for lessons learned, performance evaluation, and potential improvements in the contracting process.

Summarizing this data also makes it easier to digest and analyze during audits or assessments. It ensures that valuable insights gained from the contract execution can inform and guide future contracting efforts and strategies. Proper archiving helps maintain institutional knowledge and can inform stakeholders about previous contractor performance, which is invaluable for decision-making in subsequent procurements.