WASHINGTON--(BUSINESS WIRE)--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 and program 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:
- Creating a formal job series and career path for program managers in the federal government.
- Developing a standards-based program management policy across the federal government.
- 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.
- Sharing knowledge of successful approaches to program management 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. “We would like to congratulate Senator Joni Ernst of Iowa, Senator Heidi Heitkamp of North Dakota, Representative Todd Young of Indiana, and Representative Gerry Connolly for their success in advancing this important bi-partisan legislation through Congress.”
The reforms outlined in the PMIAA are consistent with PMI member input and research that shows that organizations that invest in program management talent and standards improve outcomes, accountability and efficiency. The findings demonstrated by PMI’s Pulse of the Profession® report also indicate 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 and reduced risk.
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.
About Project Management Institute (PMI)
Project Management Institute is the world's leading not-for-profit professional membership association for the project, program and portfolio management profession. Founded in 1969, PMI delivers value for more than 2.9 million professionals working in nearly every country in the world through global advocacy, collaboration, education and research. 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. As part of the PMI family, Human Systems International (HSI) provides organizational assessment and benchmarking services to leading businesses and government, while ProjectManagement.com and ProjectsAtWork.com create online global communities that deliver more resources, better tools, larger networks and broader perspectives.