OMB introduces PMA’s business management goals; Future Indicators of Success – MeriTalk

0

The Office of Management and Budget (OMB) today unveiled its latest quarterly updates to the President’s Management Program (PMA) for the period ending June 30, with new target statements for procurement federal government and financial management under “Managing the Business of Government” – one of the three main objectives of the PMA.

According to today’s announcement from OMB, the team overseeing the execution of the government affairs management portion of the PMA plans to publish success metrics and milestones for this effort in the next round of quarterly updates.

The team explained that current challenges facing the government in the area of ​​business management include implementing continuous improvements in the federal government’s procurement, financial aid and financial management ecosystems. These areas cover $1.5 trillion in annual federal contracts and financial aid — and sometimes more in times of crisis.

“The collective achievement of these ambitious goals and activities will also require continued improvements to our procurement, financial assistance and financial management ecosystems,” the update states.

“This shift will require new measures and processes, new training for the federal workforce, and new trade-offs that agencies will need to address together in the future,” he adds.

The first strategy under the corporate management portion put in place by the PMA includes promoting lasting improvements to the federal procurement system to strengthen America’s domestic manufacturing base, support for American workers, example towards sustainable climate solutions and creating opportunities for underserved communities.

“The federal government is the largest purchaser of goods and services in the world, and the success of the federal procurement system has a direct impact on the ability of agencies to fulfill their missions and the extent to which procurement can act as a catalyst to support key public priorities, such as equity and stewardship,” the update notes.

Additionally, the OMB said the enterprise approach allows the federal procurement system to adapt and adjust in a coordinated manner to meet government-wide goals, such as administration aimed at advancing domestic manufacturing.

To accomplish this strategy, the team has set itself three objectives that it intends to achieve:

  • Create a diversified and resilient federal market;
  • Ensure the interoperability and sharing of data and acquisition tools; and
  • Build our best by developing an inspired and engaged acquisition workforce.

The second corporate management strategy set out by the OMB is to build federal financial management capabilities—including through federal financial assistance—to catalyze U.S. industrial strategy, address climate-related risks, and deliver fair results.

Now is the time to break down silos and focus on managing the affairs of government as a federal enterprise to ensure continuous system-wide improvement, the OMB said.

“This system-wide focus requires first examining the current capacity of the financial aid workforce to ensure they have the guidance and training needed to develop and administer grant programs fairly and efficiently,” the update notes.

The OMB explained that capacity building strategies need to be implemented to ensure lasting change in the conduct of business, including looking at how financial aid policies are informed and established.

To achieve this, the OMB has set itself two objectives:

  • Strengthen and formalize the governance of federal financial assistance across federal agencies to advance the federal government’s ability to implement PMA and legal requirements effectively and efficiently through federal programs; and
  • Build a strong grantmaking community that identifies and builds core grant manager skills.

The OMB said the Biden-Harris administration has already taken “bold steps to leverage federal procurement and financial assistance to address our most pressing challenges as a country.”

Share.

Comments are closed.