According to the FAR, which steps must agencies take to optimize their contracting procedures?

The correct answer highlights the emphasis that federal agencies must place on reducing costs and enhancing opportunities for small businesses within their contracting procedures. The Federal Acquisition Regulation (FAR) aims to streamline processes and foster a competitive environment that encourages participation from small businesses, which can lead to cost savings for the government and promote diverse participation in federal contracting.

By focusing on reducing costs, agencies can adopt more efficient methods of procurement that can benefit taxpayers and enhance the overall effectiveness of government spending. Improving opportunities for small businesses aligns with federal initiatives to stimulate economic growth and innovation, as these enterprises often bring unique capabilities and perspectives to the contracting process.

Agencies are not intended to complicate or slow down the processes, nor should there be unnecessary burdens placed on contractors, as these can deter participation and reduce competition. Furthermore, while competitive bidding is important, merely increasing the number of bidding requirements does not necessarily translate to better outcomes. Instead, optimizing contracting procedures is about finding the right balance that truly supports cost efficiency and inclusivity, particularly for smaller enterprises.