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   <concept id="DFARS_PGI_215.404-70"
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      <title class="- topic/title ">
         <ph props="autonumber" class="- topic/ph ">PGI 215.404-70</ph> DD Form 1547, Record of Weighted Guidelines Method Application.</title>
      <conbody class="- topic/body  concept/conbody ">
         <p outputclass="List2" class="- topic/p ">(1) The DD Form 1547—</p>
         <p outputclass="List3" class="- topic/p ">(i) Provides a vehicle for performing the analysis necessary to develop a profit objective; and</p>
         <p outputclass="List3" class="- topic/p ">(ii) Provides a format for summarizing profit amounts subsequently negotiated as part of the contract price.</p>
         <p outputclass="List2" class="- topic/p ">(2) The contracting officer shall—</p>
         <p outputclass="List3" class="- topic/p ">(i) Use and prepare a DD Form 1547 whenever a structured approach to profit analysis is required by DFARS <xref outputclass="fm:ParaNumOnly"
                  class="- topic/xref "
                  base="DFARS-215.404-4"
                  href="215.404-4.dita#DFARS_215.404-4"
                  xtrc="215.404-4">215.404-4</xref>(b) (see DFARS <xref outputclass="fm:ParaNumOnly"
                  class="- topic/xref "
                  base="DFARS-215.404-71"
                  href="215.404-71.dita#DFARS_215.404-71"
                  xtrc="215.404-71">215.404-71</xref>, <xref outputclass="fm:ParaNumOnly"
                  class="- topic/xref "
                  base="DFARS-215.404-72"
                  href="215.404-72.dita#DFARS_215.404-72"
                  xtrc="215.404-72">215.404-72</xref>, and <xref outputclass="fm:ParaNumOnly"
                  class="- topic/xref "
                  base="DFARS-215.404-73"
                  href="215.404-73.dita#DFARS_215.404-73"
                  xtrc="215.404-73">215.404-73</xref> for guidance on using the structured approaches). Administrative instructions for completing the form are in PGI 
               <xref outputclass="fm:ParaNumOnly"
                  class="- topic/xref "
                  base="DFARS-PGI_PGI_253.215-70"
                  href="PGI_253.215-70.dita#DFARS_PGI_253.215-70"
                  xtrc="253.215-70">253.215-70</xref>
            .</p>
         <p outputclass="List3" class="- topic/p ">(ii) Ensure that the DD Form 1547 is accurately completed. The contracting officer is responsible for the correction of any errors detected by the management system auditing process.</p>
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