Former President Barack Obama signed the Program Management Improvement and Accountability Act (PMIAA) just 1 month before he leaves the White House. PMIAA has been associated into law with S.1550 with contributions of Project Management Institute (PMI) on December 14, 2016. Where the Project Management Institute (PMI) strongly supports this important legislation reforming federal program management policy. PMIAA is an important step to enhance accountability and best practices in project and program management throughout the federal government. Which will improve the government’s ability to manage its portfolio of projects and programs effectively and ensure program managers are able to serve effectively.
What will Program Management Improvement and Accountability Act (PMIAA) bring to project management profession and U.S. federal government?
This new law will improve federal program management policy by:
- Creating a formal job series and career path for program and project managers
- Developing a standards-based model for program and project management
- Designating a senior executive responsible for project and program management policy and strategy
- Leveraging an interagency council on program management to share best practices. (Source PMI, DEC 2016)
Project management institute (PMI)
PMI is the world’s largest project management not for profit membership association, representing more than 600,000 practitioners in more than 185 countries. PMI advances the profession through its global standards and credentials, collaborative chapters, virtual communities, and academic research. PMI certification shows that you have the essential knowledge, experience and education to effectively contribute to project, strategic and organizational success. PMI advances careers, improves organizational success and further matures the profession of project management through its globally recognized standards, certifications, resources, tools academic research, publications, professional development courses, and networking opportunities.
- According to PMI: A project is defined as temporary endeavor that has a defined beginning and end with defined scope and resources. It is unique in that is not a routine operation, but specified set of operations to achieve a singular goal. projects are a means by which the strategy of the company is implemented.
- According to PMI: Is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside scope of the discrete projects in the program.
- According to PMI: A portfolio is all the projects for an organization created to meet their strategic business goals. This could be all the projects for an entire company or all the projects for a division or business in a large corporation. The portfolio level will handle, among other things, governance around the project life cycle, standards, a document repository, and a project portfolio tool.
According to PMI research
Only 64 percent of government strategic initiatives ever meet their goals and business intent. Where government entities waste $101 million for every $1 billion spent on project and programs. This critical law will help maximizing the efficiency within the federal government, thereby generating more successful program outcomes The reforms outlined in the PMIAA align with PMI member input that indicates organizations who invest in program management talent and standards improve outcomes, accountability and efficiency.
The legislation of PMIAA into law illustrates an acknowledgement of the value of project and program management and therefore lays an important groundwork as PMI continues to advocate for the profession in governments around the world. Which indicates that standardized approaches, engaged executive sponsors and certified professionals are fundamental building blocks to all organizations achieving their highest levels of performance. Improving program management leads to benefits such as increased collaboration, improved decision making, reduce waste in future and reduced risk.
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