The Certified Pricing Specialist (CPS) certification is ideal for those who wish to establish, maintain and analyse price reference documentation, and to make recommendations that will facilitate optimal pricing decisions to be made by Pricing, Marketing and Sales team. The CPS is trained to: (1) provide regular and ad hoc pricing analysis and reporting for management; (2) work with Product Management to develop and implement product price strategies including segment strategies for the various markets and channels; (3) coordinate proposal development with the sales team and management; (4) prepare multi-year cost/pricing models to include labour, materials, subcontracts, and travel and write descriptive pricing volumes; (5) ensure compliance with government contracting regulations; (6) take initiative in identifying and resolving issues around pricing and margin: and (7) perform other duties as assigned, including ad-hoc analysis on methods to optimize price through market and pricing strategies.
AFMA Certification can be obtained either by Direct Application (for those with experience and/or qualifications in the area); or by undertaking an AFMA approved Training Program.
Direct Application: Those applying direct for the CPS certification will need to demonstrate advanced knowledge and experience in: (1) performing monthly analysis of existing transactional level data to identify price/margin erosion and assist sales and product management teams in constructing and implementing solutions; (2) assisting program managers in development and analysis of project budgets; (3) monitoring contract value, funding needs, and change orders in coordination with contract specialist and adjust budgets accordingly; (4) in coordination with project managers, preparing projections of revenue and expenses for projects based on numerous variables and data assumptions; (5) providing financial analysis support to management, (6) analysing corporate budget vs. actual expenses; (7) creating rolling financial statement and indirect rate forecasts based on the latest contract revenue and expense projections and budget assumptions; (8) independently developing new Excel models, charts and graphs, and procedures as necessary; (9) analysing market dynamics, pricing trends, market opportunities, operating and sales margins in order to develop reports, procedures and tools for pricing and quoting; (10) managing price change execution related to SPAs and quotes, including data integrity and consistency.
Training: For those wishing to undertake training to obtain certification, this course trains individuals to: (1) obtain an understanding of indirect cost pools, forward pricing projections, bid multiplier rate analysis, etc.; (2) Monitor and update commercial price lists and GSA pricelists as needed; (3) provide project support and analysis to program managers; (4) validate sales quotations for accuracy and profitability; (5) download and organize baseline price information, analyse and report on inconsistencies, and identify opportunities to optimize sales and profitability through price strategies; (6) establish a system of documentation, communication and review of internal and external comparative price data, including wins and losses due to price; (7) Monitor, analyse, and report on monthly Price Realization (erosion) versus budget commitment on specific SPAs, quotes, market segments and/or customers; and (8) perform margin and pricing analysis to support key business initiatives as required.
The Certified Pricing Specialist - CPS tm Board Certification is awarded to individuals who have met our Requirements: