Draft Guidance for Agencies to plan and manage investment baselines – scope, schedule, cost and performance.

OMB Watch

Scheduled for January release - new guidance from OMB will build on the findings and recommendations from the GAO report on government-wide application of Earned Value Management. The draft guidance contains specific requirements in four areas related to investment baselines: 1) Planning the Baseline, 2) Notifying OMB of the Baseline, 3) Managing and Monitoring the Baseline, and 4) Earned Value Management. And something to note – the “Baseline” for an investment is defined as the usual scope, schedule and cost we’ve come to know from project management circles; but also includes specific reference to performance as part of that baseline.