David Scott 10-02-2012
KMSG is excited to announce the release of our Earned Value Management Readiness Assessment (ERA). What is your Organizations ERA?
Government Contractors are increasingly required to act in accordance with Federal Acquisition Regulations (FAR) and Department of Defense requirements to implement an Earned Value Management System (EVMS) which is compliant with the ANSI/EIA 748 EVMS Standard.
Recently, the Defense Contract Audit Agency (DCAA) published a memorandum concerning the Defense Federal Acquisition Regulations Supplement (DFARS) 252.242-7005 final rule regarding contractors’ business systems. This communication defines significant deficiency in an EVMS as: Shortcomings in the system that materially affect the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.
The DFARS rule establishes a mechanism that allows the contracting officer to withhold a percentage of payments of up to 5% for one or more significant deficiencies in any single contractor business system; and up to 10% for significant deficiencies in multiple contractor business systems.
Clearly, there is a lot at stake should your organization’s EVMS be deemed deficient. Many organizations struggle with measuring their EVM readiness and potential gaps with their current project and earned value management capabilities. They are also often challenged with developing a logical ‘road map’ to achieve compliance.
KM Systems Group (KMSG) Complimentary EVM Readiness Assessment
KMSG EVMS subject matter experts will meet with your management and project controls professionals to conduct an initial ERA of your organization’s project management systems and practices. We will provide:
For more information on our ERA services, please see our new cut-sheet, "Earned Value Readiness Assessment (ERA) - What's your Organization's ERA?" available in the KMSG Library