GAO has published a best practices guide as a companion to its Cost Estimating and Assessment Guide, which outlines ways for agencies to develop and maintain reliable cost estimates through an acquisition program.
The new publication, the GAO Schedule Assessment Guide, develops the scheduling concepts in the earlier guide and presents them as ten best practices associated with developing and maintaining a reliable, high-quality schedule–and in particular accounting for potential delays.
Said GAO, “Typically, schedule variances are followed by cost variances and management tends to respond to schedule delays by adding more resources or authorizing overtime. Therefore, a reliable schedule can contribute to an understanding of the cost impact if the program does not finish on time. Further, a schedule risk analysis allows for program management to account for the cost effects of schedule slippage when developing the life-cycle cost estimate.
“Thus, a well-planned schedule is a fundamental management tool that can help government programs use public funds effectively by specifying when work will be performed in the future and measuring program performance against an approved plan. Moreover, as a model of time, an integrated and reliable schedule can show when major events are expected as well as the completion dates for all activities leading up to them, which can help determine if the program’s parameters are realistic and achievable. Additionally, a well-formulated schedule can facilitate an analysis of how change affects the program. Accordingly, a schedule can serve as a warning that a program may need an overtarget budget or schedule,” it said.
The schedule assessment guide also presents guiding principles for auditors to evaluate certain aspects of government programs.
