Subcontract cost/price analysis as part of CO consent decision? in Contract Pricing Including CAS & Allowable Costs Posted May 24 · Report reply 3 hours ago, joel hoffman said: Cost realism is a form of cost analysis but generally for a separate purpose than determining that a price is “fair and reasonable”. Joel, It's interesting you say that. I never considered cost realism as a tool for other than a fair and reasonable price determination. Per the FAR, "Use techniques such as, but not limited to, price analysis, cost analysis, and/or cost realism analysis to establish a fair and reasonable price". I also consider cost realism, a form of cost analysis.