In the News: Project Management Legislation
January 11, 2017 by The FlexPro Group
Excellence in project management has found its way onto Capitol Hill.
The Program Management Improvement and Accountability Act (PMIAA) was signed into law on December 14, 2016. The new law (S.1550) was enacted to enhance accountability and best practices in project and program management throughout the federal government.
Will there be any impact on Life Sciences companies in the public and private sector? Time will tell, but we can see the tangible effects of the new legislation outlined below:
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.
The U.S. Food and Drug Administration (FDA) is under the U.S. Department of Health and Human Services (HHS). Since HHS is one of the federal agencies governed by this new law, there is certainly the possibility of a trickle-down effect.
Why not implement best practices in project and program management now? Several studies and reports cite increased probability of the right projects being completed on time and on budget by utilizing PM best practices. At FlexPro, we understand your highly-regulated environment and are focused on employing project and program management processes that are in line with industry standards.
Click here to read the Project Management Institute’s full take on this exciting news!