Performance-based acquisition defined
There are two ways to develop a specification for a performance-based acquisition: use a performance work statement or a statement of objectives.The performance work statement
process describes the required results in clear, specific and objective terms with measurable outcomes. The agency conducts an analysis of the job, writes the work statement and develops the plans for quality assurance and monitoring.The statement of objectives
includes the overall performance objectives. It requires competing contractors, rather than the agency, to develop the detailed performance plans.Source: Office of Federal Procurement Policy.