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Thursday, April 13, 2006

OMB: Agencies met March cost management deadline

All federal agencies met a recent deadline for starting independent reviews of their plans to implement a financial management tool for information technology projects, an Office of Management and Budget spokesman said Tuesday.

Agencies had until March 31 to begin reviews of their plans to implement earned value management, a technique for tracking a project's progress against its planned performance, cost and schedule. The strategy also requires agencies to evaluate risks that might derail performance plans, and develop risk mitigation strategies.

All agencies reported meeting the deadline, said an OMB official who asked to remain anonymous, though some discovered through the review process that their plans required additional work to ensure achievable goals and a clearly defined performance baseline in the areas targeted by the system under development.

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