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Friday, July 07, 2006

Acquisition councils finalize EVM rule

"Federal acquisition officials finalized a rule, effective today, that details how agencies should implement an earned-value management system for managing major acquisitions.

In a notice, the Civilian Agency Acquisition and the Defense Acquisition Regulations councils said the rule was not altered significantly from its April 2005 draft and there will not be public meetings on the new standards.

The rule is now incorporated in the Federal Acquisition Regulation.

An earned-value management system is a project management tool that, in theory, lets project managers track money spent on a project almost in real time and measures that expense against milestones and deadlines.

The Office of Management and Budget, in Circular A-11, required the use of an EVMS on developmental, high-risk acquisitions. "

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