dashboard and presented at appropriate stakeholder meetings. Not only should these metrics be captured at the Component Project level, but also at the overall Program level. Examples include: Cost Variance (CV) Cost Performance Index (CPI) Budget versus Actual by quarter Performance Measure Green Yellow Red Cost Performance Index (CPI) Between 0.91 and 1.0 Between 0.9 and 0.8 or Less than 0.8 or Greater Between 1.1 and 1.2 than 1.2 Action: do nothing Action: develop Action: invoke monitoring and mitigation plan, prepare mitigation action plan budget change request, and/or assess Components causing issue and determine resolution (more funds or cancel) Budget versus Actual by Less than 5% variance Greater than 5% Greater than or equal to Quarter (negative) negative variance and 10% negative variance Less than 10% negative Action: do nothing Action: invoke variance mitigation plan, prepare Action: develop budget change request, monitoring and and/or assess mitigation action plan Components causing issue and determine resolution (more funds or cancel) Budget Change Request Process Explanation: Document the budget change request process. Typically, budget change requests follow the normal change request process within the Commonwealth Technology Portfolio (CTP) tool. A PMD Decision Brief will be prepared for approval.
dashboard and presented at appropriate stakeholder meetings. Not only should these metrics be captured at the Component Project level, but also at the overall Program level. Examples include: Cost Variance (CV) Cost Performance Index (CPI) Budget versus Actual by quarter Performance Measure Green Yellow Red Cost Performance Index (CPI) Between 0.91 and 1.0 Action: do nothing Between 0.9 and 0.8 or Between 1.1 and 1.2 Action: develop monitoring and mitigation action plan Less than 0.8 or Greater than 1.2 Action: invoke mitigation plan, prepare budget change request, and/or assess Components causing issue and determine resolution (more funds or cancel) Budget versus Actual by Quarter Less than 5% variance (negative) Action: do nothing Greater than 5% negative variance and Less than 10% negative variance Action: develop monitoring and mitigation action plan Greater than or equal to 10% negative variance Action: invoke mitigation plan, prepare budget change request, and/or assess Components causing issue and determine resolution (more funds or cancel) Budget Change Request Process Explanation: Document the budget change request process. Typically, budget change requests follow the normal change request process within the Commonwealth Technology Portfolio (CTP) tool. A PMD Decision Brief will be prepared for approval.
ProgramFinancialManagementPlanTemplate.docx