This paper looks both backwards and forwards. Over the past decade, significant changes have taken place in the U.S. federal government's procurement system, designed to improve the system's performance through a strategy of making procurement less rule bound. Kelman begins by arguing a case for the significant reduction in rules that was the central tactic of procurement reform. He proceeds to discuss changes the procurement reformers instituted, involving the first two legs of contracting management (business strategy development and source selection). Then he discusses the third leg, contract administration that was largely ignored by the reformers. This is Working Paper No. 3 for the Visions of Governance in the 21st Century Program. It was also published as "Remaking Federal Procurement," Public Contracts Law Journal (Summer 2002).