Improving Contracting Outcomes Act of 2024

This bill establishes a 2-year pilot program to test new ways for federal agencies to measure contracting success. It requires at least three major agencies and one military department to develop and use specific, measurable goals focused on cost savings, on-time delivery, quality, and end-user satisfaction. The program mandates regular reporting to Congress on progress, data challenges, and successful practices. The pilot aims to create a standardized approach for evaluating how well contracts meet agency needs, with final results informing future federal procurement policies.