Legislation to improve program management practices and bolster workforce development becomes law in December 2016.
President Barack Obama has signed into law S.1550, the Program Management Improvement and Accountability Act of 2015 (PMIAA), which will enhance accountability and best practices in project management throughout the federal government. The legislation, strongly endorsed by the Project Management Institute (PMI), was approved by both chambers of Congress with overwhelming bi-partisan support. President Obama signed it into law on Wednesday, December 14.
The PMIAA reforms federal program management policy in four important ways:
1. Creating a formal job series and career path for program managers in the federal government.
2. Developing a standards-based program management policy across the federal government.
3. Recognizing the essential role of executive sponsorship and engagement by designating a senior executive in federal agencies to be responsible for program management policy and strategy.
4. Sharing knowledge of successful approaches through an interagency council on program management.
“We are thrilled that this significant piece of legislation has been signed into law by President Barack Obama. PMIAA will help maximize efficiency within the U.S. federal government, thereby generating more successful program outcomes and increasing the value that Americans receive for their tax dollars”, said PMI President and Chief Executive Officer Mark A. Langley.
PMI’s report also uncovered that only 64 percent of government strategic initiatives ever meet their goals and business intent — and that government entities waste $101 million for every $1 billion spent on project and programs. The research also shows that these best practices result in improved efficiency and less money being wasted. Most importantly, organizations see more projects delivering expected value to stakeholders on time and within budget.