The Deepwater contract was created and awarded as one that is "performance based" - creating a public/private partnership in which the Government issues system performance requirements, thus allowing industry to develop products and systems to meet those requirements. Further, all proposals and assets are judged according to the optimum marriage of performance against total ownership cost-giving the Coast Guard, and the U.S. taxpayer, the best value on an asset-by-asset basis.

As a performance-based contract, the Integrated Coast Guard Systems team has pledged an open business model philosophy of opening a web-based supplier network to invite maximum vendor participation, and competing the majority of the work under the contract while deferring vendor selection until absolutely necessary, to invite best-of-market technologies and solutions.

Currently, Homeland Security requirements are high priority for the Coast Guard, however the Coast Guard is a multi-mission maritime military force with many demands placed on the equipment and servicemen and women. As such, flexibility is built into the Deepwater program, so that whatever the demands, the tools and systems will be able to get the job done.