Contracting knowledge areas define the areas of knowledge that contracting professionals should have when carrying out their work. These areas include contract planning and development, contract acquisition, contract award, contract control, termination, and contract performance. Experts in these fields are in a better position to sort out various issues in the procurement procedures, thereby ensuring that contracts are awarded competitively, effectively, and without compromising the legal provisions $($Albano$,2013).$ For example, contract planning entails defining the need for a contract, specifying the requirements to be met, and determining how to source the products or services. Lack of required knowledge in this area might make contracting professionals unable to propose proper contract elaboration strategies, resulting in delays, increased costs, etc.

On the other hand, Competency is the skills and knowledge that contracting professionals must have to implement the knowledge. These competencies include, among others, communication skills, bargaining power, the power of decision$-$making, and relationship management with contractors, governmental agencies, and any other relevant stakeholders. Contracting officers also require client management skills to cultivate productive working relationships with the above$-$stated stakeholders to enable efficient contract delivery $($Albano$,2013).$ For instance, when developing the solicitation documents, the contracting professionals must be able to communicate with potential contractors fully and clearly so that they can comprehend such aspects as requirements for contract awards and means of assessment. They must also debate the issues affecting the contracts between the government and the contractor while defending the government's position alongside the contractor's position.

Some critical elements of the acquisition effort include relationships, collaboration, and monitoring. Contracting professionals must be able to cultivate business relations with contractors, the government, and other related parties to ensure that contracts are delivered well. This entails developing rapport, cultivating communication, and encouraging interaction and teamwork. For example, in the case of contract administration, the contracting professionals are statutorily required to engage the contractors and monitor whether they are delivering as required by the contract documents. This involves communication skills, bargaining powers, decision$-$making skills, and an assessment of the contractors' performance.

The featured video, "A Look at the History of the Navy's Frigates," offers a historical perspective on contracting knowledge and competency in acquisitions. The whole picture of the development of the Navy's frigate program and its interactions with the United States is depicted from ancient times up to the present day $($US Navy, $2012).$ The video educates the public on how effective management of contracts is important in the acquisition process. Currently, the Navy is experiencing many changes in its frigate program due to such factors as technological changes, shifts in beliefs in terms of warfare techniques and strategies, and political transformations. A major factor in this program has been having well$-$managed contracts to facilitate the procurement of goods and services required by the Navy.

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