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The Office of Federal Procurement Policy (OFPP) in the Office of Management and Budget plays a central role in shaping the policies and practices federal agencies use to acquire the goods and services they need to carry out their responsibilities.
Purpose. This Policy Letter establishes policies and procedures for using a Government-wide system for exchanging information among agencies about nonconforming products and materials. The use of a central system will enhance communications among agencies.
The FAR is prepared, issued, and maintained, and the Federal Acquisition Regulations System (FAR System) is prescribed jointly by the Secretary of Defense, the Administrator of General Services, and the Administrator, National Aeronautics and Space Administration, under their respective statutory authorities.
In February 2018, President Donald Trump nominated Michael E. Wooten to be the next Administrator. Dr. Wooten was confirmed on August 1, 2019.
Federal government contracts are commonly divided into two main types, fixed-price and cost-reimbursement. Other contract types include incentive contracts, time-and-materials, labor-hour contracts, indefinite-delivery contracts, and letter contracts.

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OFPP was established by Congress in 1974 to provide overall direction for government-wide procurement policies, regulations and procedures and to promote economy, efficiency, and effectiveness in acquisition processes. OFPP is headed by an Administrator who is appointed by the President and confirmed by the Senate.
This Act establishes the Federal Acquisition Security Council (FASC), empowering it with authority to develop government-wide criteria for federal supply chain risk management (SCRM) programs, criteria for sharing relevant supply chain risk information across the Government, and protecting Federal information
The Office of the Procurement Executive (A/OPE) provides management direction and leadership over Department-wide acquisition and federal assistance policies and the full range of acquisitions and federal assistance management services.

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