Which statement best describes a performance-based acquisition?

A performance-based acquisition emphasizes achieving specific outcomes and results rather than detailing the processes by which those outcomes are to be achieved. This approach allows for greater flexibility for contractors to determine the methodologies they will employ to meet the desired performance objectives.

By concentrating on the end results, performance-based acquisitions encourage innovation and efficiency, as contractors can leverage their expertise to deliver solutions that meet or exceed the expectations outlined in the contract. This aligns with the government's goal of achieving value and effectiveness in its procurement processes.

Focusing on detailed process requirements, as mentioned in one of the other choices, can stifle creativity and limit the contractor's ability to respond flexibly to challenges. Similarly, while past performance ratings and the contractor's experience are important considerations in any acquisition strategy, they are not the central tenets of a performance-based approach. Instead, they serve as factors that inform the selection of contractors but do not dictate how the work should be performed or what outcomes should be achieved.