Earned Value Management: Not Just for the Big Guns Anymore

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1 Earned Value Management: Not Just for the Big Guns Anymore January 15, 2008 Aronson & Company Government Contract Solutions Group 805 King Farm Boulevard, Suite 300 Rockville, Maryland F Aronson & Com mpany All rights reserved.

2 Aronson & Company Founded in Professionals Located in Rockville, MD One of the Largest CPA and Management Consulting Firms in the DC Metro Area 60 Multi-disciplined Professionals Focused on Government & Technology Services Team of Professionals Dedicated to Contract Acquisition and Management Aronson & Com mpany All rights reserved.

3 Aronson & Company 2006 Aronson & Company All rights reserved.

4 Hope A. Lane Officer, A&C Government Contract Solutions Group Phone: (301) , As Officer of Aronson & Company s Government Contracts Consulting Group, Ms. Lane is responsible for assisting clients in obtaining GSA contracts and providing consulting support in the areas of pricing strategy and contract administration. With an exclusive focus on GSA Schedules, she possesses in-depth understanding and intensive hands-on experience. Ms. Lane s background includes over 20 years of broad-based experience in the government contracting arena. Ms. Lane is actively involved in the National Contract Management Association and the Northern Virginia Technology Council. Ms. Lane is a guest speaker and lecturer for associations and industry trade groups and a featured speaker on GSA Schedules at Aronson & Company s Executive Briefings. Additionally, Ms. Lane s industry expertise is frequently sought after by GSA and Greater Washington Initiative Aronson & Com mpany All rights reserved.

5 Thomas A. Marcinko Senior Consultant, A&C Government Contract Solutions Group Phone: (301) , Mr. Marcinko is a Senior Consultant in Aronson & Company s Government Contract Solutions Group. He is responsible for providing clients with a broad variety of both pre and post award contract support. His areas of expertise include proposal development, contract administration, subcontract administration, FAR compliance, and Government audits. Mr. Marcinko has 27 years of experience in government contracting for several large and small Government contractors, including 8(a) firms. Mr. Marcinko has experience with all type of contracts and has worked with most Federal Agencies and many States. He has successfully prepared many costs proposals for programs as large as $750 million. He has extensive experience working with DCAA on pricing and system audits. Mr. Marcinko presents numerous training classes on a variety of government contracting subjects. Mr. Marcinko earned a law degree from the University of Florida in He is a member of the Florida Bar and the NCMA Aronson & Com mpany All rights reserved.

6 Rich Wilkinson Vice President, Deltek Mr. Wilkinson has nearly 30 years experience in the government contracting arena. He spent eight years as a contracting officer with the Naval Air Systems Command Headquarters and more than 12 years in the controllership of government contractors ranging from General Physics Corporation to Atlantic Research Corporation and CSC. During this time, Mr. Wilkinson was responsible for selection and implementation of accounting systems, as well as, compliance monitoring and liaison with DCAA and DCMA. In almost 10 years with Deltek, the leading provider of enterprise management software for project-focused organizations, Mr. Wilkinson has helped more than 100 companies select, install and deploy accounting systems to meet the unique requirements of today s government contracting environment Aronson & Com mpany All rights reserved.

7 Earned Value Management A Practical Analysis 805 King Farm Boulevard, Suite 300 Rockville, Maryland F Aronson & Com mpany All rights reserved.

8 Agenda Overview of Earned Value Management (EVM) Elements of a Compliant Earned Value Management System (EVMS) EVMS Proposal Requirements s reserved. mpany All rights 06 Aronson & Com 200

9 Overview of Earned Value Management 805 King Farm Boulevard, Suite 300 Rockville, Maryland F Aronson & Com mpany All rights reserved.

10 Overview e of Earned Value Management age e FAR Definition of Earned Value Management System (EVMS): A Project Management Tool that t Effectively Integrates t the Project Scope of Work with Cost, Schedule, and Performance Elements for Optimum Project Planning and Control. EVMS Is A Set Of Business Practices, Processes, And Tools For Enterprise Project Planning And Control. The Process Includes Integration Of Scope, Schedule, Cost, a Performance Measurement Baseline, And Earned Value Aronson & Com mpany All rights reserved.

11 EVMS Consists of: Processes, Policies, Procedures People/Organizations Training Compliance Software Aronson & Com mpany All rights reserved.

12 EVMS Software Tools Scheduling Tool Accounting Software Cost Management / Earned Value Management Engine Information Dissemination / Workflow System s reserved. mpany All rights 06 Aronson & Com 200

13 Key EVMS Definitions Basis For Earned Value Analysis Performance Measurement Baseline (PMB): The Assignment Of Budgets To Scheduled Discreet Segments Of The Work Planned Value The Budgeted Costs Of The Scheduled Work Percent Complete An Objective Measure Of Task Progress Earned Value The Budgeted Costs, Per The PMB, Of The Completed Work. Actual Costs Total Expenditures To Date Variance Calculations Schedule Variance = Earned Valued Minus Planned Value Cost Variance = Earned Valued Minus Actual Costs Cost Performance Index = Earned Valued Divided By Actual Costs Aronson & Com mpany All rights reserved.

14 EVMS Example Performance Measurement Schedule: 60 Days After Contract Baseline One Widget Budget: $100,000 Planned Value: $100,000 Percent Complete: 75% Earned Value: $ 75,000 Actual Costs: $ 90,000 Schedule Variance: $ 75,000 minus $100,000 = ($25,000) Cost Variance: $ 75,000 minus $ 90,000 = ($15,000) Cost Performance Index: $ 75,000 divided by $ 90,000 = Aronson & Com mpany All rights reserved.

15 Elements of a Compliant EVMS 805 King Farm Boulevard, Suite 300 Rockville, Maryland F Aronson & Com mpany All rights reserved.

16 ANSI/EIA-748-A A Guidelines A FAR Compliant EVMS Must Meet the 32 guidelines of ANSI/EIA-748-A. Guidelines are Grouped into Five General Areas: Organization Planning, Scheduling and Budgeting Accounting Considerations Analysis and Management Reporting, and Revisions and Data Maintenance Aronson & Com mpany All rights reserved.

17 Organization Define Authorized Work Elements (Work Breakdown Structure). Identify Program Organizational Structure. t Integrate Work Breakdown Structure and Organizational Structure t to Allow Cost and Schedule Performance Measurement. Integrate t Company Planning, Budgeting, Scheduling, Work Authorization, and Cost Accumulation Processes. Identify Party Responsible for Controlling Indirect Costs Aronson & Com mpany All rights reserved.

18 Planning, Scheduling and Budgeting g Identify Indicators to Measure Progress and Establish Time-Phased Budget Baseline. Identify the Authorized Work in Discrete Work Packages and Link to Corresponding Budget By Cost Element. Identify Undistributed Budget Aronson & Com mpany All rights reserved.

19 Accounting Considerations Record Direct and Indirect Costs in a Manner Consistent with a Formal Accounting System. Allocate Direct Costs into Work Breakdown Structure t Elements. Accounting System Must Account for All Materials Purchased Aronson & Com mpany All rights reserved.

20 Analysis and Management Reports At Least Monthly, Provide Reports on Schedule and Cost Variance. Identify Reasons for Variances and Develop Revised Estimates of Cost at Completion. Implement Managerial Actions Taken as a Result of the Earned Value Information Aronson & Com mpany All rights reserved.

21 Revisions and Data Maintenance Incorporate Authorized Changes in a Timely Manner, Recording the Effects of Such Changes in Budgets and Schedules. Prevent Retroactive Changes to Records for Work Performed that Impact Actual Costs, Earned Value, or Budgets. Document Changes to the Performance Measurement Baseline Aronson & Com mpany All rights reserved.

22 EVMS Proposal Requirements 805 King Farm Boulevard, Suite 300 Rockville, Maryland F Aronson & Com mpany All rights reserved.

23 Potential t Items for Inclusion in Proposal Compliant EVMS Documentation Self or Third-party Evaluation Documentation Compliance Plan Compliance Milestones s reserved. mpany All rights 06 Aronson & Com 200

24 Conclusion 805 King Farm Boulevard, Suite 300 Rockville, Maryland F Aronson & Com mpany All rights reserved.

25 Typical Outputs from a Compliant EVMS Disclosure Statement Chart of Accounts Documented Processes for Managing Indirect Costs Forward Pricing Rates Indirect Costs Reports Indirect Costs policies and procedures Indirect Cost variance analysis Indirect Cost management action plans Indirect cost updated schedule and cost forecasts Basis of Estimates Bills of Material Subcontractor Schedules Reconciliation of subcontractor reported costs to subcontractor payments. Organizational i Chart Aronson & Com mpany All rights reserved.

26 Figures Don t Lie, but Liars Figure Figures Don t Lie, but Liars Figure Garbage In Garbage Out EVM Is A Powerful Tool That Bright, Talented, Hard- Working People can Use to Help Manage Their Projects. EVM Is Not A Substitute For Bright, Talented, Hard- Working People Aronson & Com mpany All rights reserved.

27 The Aronson & Company Advantage: Government Contract Solutions Group Aronson & Company s team of dedicated consultants provide EVM solutions incluing: Development of EVM policies, procedures and processes Integration of EVM software solutions Assistance with Government validation of EVMS Address EVM proposal elements Third party evaluation of EVMS Aronson & Com mpany All rights reserved.

28 Aronson Point of Contact Tom Marcinko Tel.: (301) Aronson & Com mpany All rights reserved.

29 The New Government Contracting Environment Legislative & Regulatory Initiatives Looking Backward & Forward Rich Wilkinson Rich Wilkinson VP, Government Contracting Marketing

30 Agenda Regulatory Update Looking Back Earned Value Management Trends in Contracting (GWACs, Multiple Award Schedules, etc.) Regulatory Update Looking Forward Legislative Initiatives in Contracting Accountability and Oversight New Restrictions on Contract Types Regulatory Initiatives in Contracting New Small Business / 8(a) certification rules and the impact on SMBs Funding Restrictions The Probable Impact to GovCon firms of the changing environment 2007 Deltek, Inc. 30

31 Recent Developments in Government Contract Legislation & Regulation The Road Looking Back

32 Earned Value Management

33 What it IS Cost Resources Technical Performance Risk Schedule Time Earned Value Management (EVM) is a program management technique that integrates technical performance requirements, resource planning, with schedules, while taking risk into consideration. (NASA) Earned Value Management (EVM) is an integrated system of project management and control which h enables a Contractor and their customer to monitor the progress in terms of integrated cost, schedule and technical performance. (DOD) 2007 Deltek, Inc. 33

34 What it ISN T EVM is not a revenue recognition method. But, there ARE revenue recognition methods based on earned value principles. EVM is not a Silver Bullet for project health EVM is not quick, easy, or cheap 2007 Deltek, Inc. 34

35 A Short History of Earned Value Henry Gannt developed chart to provide a visual summary of program segment progress Introduced IDN concept 1962 PERT/Cost introduced to add resource estimates to the PERT logic networks Early 1900 s: Industrial engineers in factories compared earned standards separately to actual costs and planned standards to assess costperformance efficiencies C/SCSC imposed on major DOD projects via DOD instructions 1957 Program Evaluation and Review Technique (PERT) introduced by the US Navy on Polaris program under Admiral William Raborn Deltek, Inc. 35

36 EVM in the Government The infamous Cost and Schedule Control Systems (CS) 2 Criteria were the forerunner of today s EVM standard CS 2 systems were MANDATED on all Major Weapon Systems contracts and PROHIBITED for less than major systems (contracts less than $73M for RDT&E and less than $315M for Procurement) CS 2 reporting was designed specifically to identify and contain COST variances, not performance issues 1999 DOD CS2 Instructions cancelled in favor of EVM industry standard EIA/ANSI 748a Late 2004 OMB White Paper circulated making eight (8) specific recommendations including a mandate of ANSI/EIA 748a standard 2007 Deltek, Inc. 36

37 The OMB Recommendations ANSI/EIA 748a mandated whenever EVM is required A CPR and IMS will be required whenever EVM is required EVM will be required on all cost-type contracts >=$20M Former RDT&E threshold was $73M Former Procurement threshold was $315M EVM on contracts <$20M permitted, but optional based on risk EVM for other contract types will be a risk-based decision Compliance validation required on contracts >= $50M Government surveillance of Contractor EVMS required whenever EVM is required IBRs will be required whenever EVM is required 2007 Deltek, Inc. 37

38 Recent Developments The FAR Change to implement the new EVM mandate was published in the Federal Register on Wednesday, July 5th, 2006 The OMB recommendations were implemented almost exactly as recommended with one exception The threshold for EVM application was left to each agency to set 2007 Deltek, Inc. 38

39 Highlights from the FAC There is no exemption from the EVMS requirement for Small Businesses The comment section of the FAC contains a very revealing quote Small businesses may avoid all EVMS costs by choosing not to participate p in EVMS solicitations. It is clear from several comments that the FAR Councils consider the cost of set-up of an EVMS to be a company cost and not a contract cost The cost for a business setting up an EVMS compliant system should be a one-time cost. The Councils acknowledge that pre-award IBRs may increase B&P costs and source selection resources Deltek, Inc. 39

40 Expected Impact Expanded application of EVM Contracts (maybe many) with EVM mandates some or all of which may be unfunded Application of EVM to situations where its value is marginal Application of EVM by personnel with limited it understanding di of how it works Application of EVM by companies with little or no understanding of WHY it works 2007 Deltek, Inc. 40

41 Why not More EVM to Date? Continuing resolution funding for all of FY2007 delayed new program starts (likely to require EVM) EVM skill sets scarce and commanding premium salaries, both in industry and in Government Government PM and Acquisition Management training slow to start 2007 Deltek, Inc. 41

42 Trends in Contracting GWACs, Multiple Award Schedules, IDIQ s, etc.

43 Acquisition Workforce Changes The total Federal Government acquisition workforce has decreased by more than 22% FROM 1992 TO 2002 (and continues to decline) GAO Report GAO entitled Acquisition Workforce, Status of Agency Efforts to Address Future Needs, December Deltek, Inc. 43

44 Workforce Shortage has Multiple Impacts DOD s reported obligations under time-and-materials contracts increased from almost $5 billion in 1996 to about $10 billion in But this dollar amount is understated because DOD has not been coding contract type for orders placed under federal schedules. GAO Report GAO entitled Improved Insight and Controls Needed over DOD's Time-and-Materials Contracts, June percent of $ are in support services; information technology and communications; and equipment maintenance and repair. Over 80 percent of these obligations are against task orders. DOD uses time-and-materials contracts because they can be awarded quickly and labor hours or categories can be adjusted if requirements are unclear or funding uncertain Deltek, Inc. 44

45 More Reports Pile On A GAO study released June 29th concludes that Flexibility, not suitability, has been driving the Defense Department s increasing use of time-and-materials contracts. A new report on federal procurement spending by Representative Henry Waxman (D. California), released June 27th, shows that agencies spent nearly $63 billion on orders placed under multiple award contracts last year, up 82 percent since Deltek, Inc. 45

46 Small Businesses Under Fire In GFY 2005, Small Business awards made to large businesses exceeded $12 Billion 37% awarded to large corporations 38% awarded to small business that had outgrown the classification 17% awarded to small businesses acquired by large businesses 8% awarded to state & local governments and other Federal agencies Rule changes were effective 30 June, 2007 Recertification of set aside contracts required at five year mark Recertification also required at each option exercise thereafter Recertification required upon conclusion of ANY M&A activity 2007 Deltek, Inc. 46

47 Contracting Restrictions Pending The 2008 Defense Authorization bill contains a provision that will severely restrict T&M contracting T&M contract form to be used solely for commercial services in support of commercial items Exception (only) for emergency repairs The same bill will also authorize protest of delivery orders under IDIQ s when the order is over $10M The bill will also impose an outright ban on the Lead System Integrator procurement concept Existing LSI programs must be phased out by 2010 No new LSI awards effective immediately Existing LSI programs include the Secure Border Initiative, Joint Strike Fighter, Future Combat System & Littoral Combat Ship 2007 Deltek, Inc. 47

48 Other Legislative Initiatives The Defense Authorization bill will also prohibit subcontracting more than 65% of contract (labor) costs, and Create a publicly available, searchable database of government contractor audit findings 2007 Deltek, Inc. 48

49 Considerations for the Changing Environment Solution that helps ensure you re compliant with latest rules & regulations Designed for GovCon needs Solution provider that stays current with ever-changing GovCon requirements More than just DCAA; also Earned Value, ethics programs, compliance 2007 Deltek, Inc. 49

50 Deltek Government Contracting Solution Portfolio Management Client and Contact Management Resource Management Opportunity Management Project Scheduling Proposal Coordination Earned Value and Risk Management Revenue Forecasting Payroll Timekeeping and Expense FAR and CAS Compliance Financial and Project Accounting Materials Management 2007 Deltek, Inc. 50

51 Win More Business GovWin Portfolio Management Client and Contact Management Resource Management Opportunity Management Scheduling Proposal Coordination Earned Value and Risk Management Revenue Forecasting Payroll Timekeeping and Expense FAR and CAS Compliance Financial and Project Accounting Materials Management 2007 Deltek, Inc. 51

52 Manage Your Business GCS Premier Portfolio Management Client and Contact Management Resource Management Opportunity Management Scheduling Proposal Coordination Earned Value and Risk Management Revenue Forecasting Payroll Timekeeping and Expense FAR and CAS Compliance Financial and Project Accounting Materials Management 2007 Deltek, Inc. 52

53 Improve Business Performance EPM Portfolio Management Client and Contact Management Resource Management Opportunity Management Scheduling Proposal Coordination Earned Value and Risk Management Revenue Forecasting Payroll Timekeeping and Expense FAR and CAS Compliance Financial and Project Accounting Materials Management 2007 Deltek, Inc. 53

54 Gaylord Opryland Resort & Convention Center Nashville, TN May 19-22, 2008 Don t miss the premier event for project-focused professionals! For more information, visit: Deltek, Inc. CONFIDENTIAL 2007 Deltek, Inc. All Rights Reserved 54

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