1. Short title This Act may be cited as the Improving Contracting Outcomes Act of 2024 . 2. Definitions In this Act: (1) Appropriate congressional committees The term appropriate congressional committees means the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Accountability of the House of Representatives. (2) Chief Financial Officer Act Agency The term Chief Financial Officer Act Agency means an agency listed in section 901(b) of title 31, United States Code. (3) Cost avoidance The term cost avoidance refers to— (A) reductions in the need for increased funding if present management practices continued; (B) unfunded requirements that were avoided; and (C) productivity gains, such as reduction in required labor hours, reduction in contract duplication, and use of shared contract programs. (4) Cost savings The term cost savings means reductions to budget lines or funded programs resulting from a new policy, process, or activity with no adverse impact on mission. (5) End user The term end user means the internal stakeholder that uses the product or service procured. (6) Head of contracting activity The term head of contracting activity has the meaning given the term head of the contracting activity in section 2.101 of the Federal Acquisition Regulation. (7) Military department The term military department has the meaning given the term in section 101(a)(8) of title 10, United States Code. (8) Multiple award contract The term multiple award contract means— (A) a contract that is entered into by the Administrator of General Services under the multiple award schedule program referred to in section 3012(3) of title 10, United States Code