The US government’s Program Management Improvement and Accountability Act (PMIAA) is now law. President Obama signed this Act following unanimous approval by the US Senate.
The PMIAA is expected to have a significant impact on Program Management and Project Management – not only in the USA, where the Federal Government spends more than $2.7 Trillion (USD) per year, but around the world, as the Act’s increased standards and resulting compliance requirements flow through all industries to impact organisations that utilise Program Managers and Project Managers.
The demand for effective Program and Project governance, increased controls and transparent access to information by stakeholders will increase the demand for tools that can support these needs throughout the project lifecycle. Solutions that can provide answers in real-world terms, such as PMWeb’s leading features for managing capital works projects, will provide Program Managers and Project Managers with the information necessary for effective decision-making.
Project Owners already have increased requirements for access to information in real time. Some will provide their own system and require that their consultants and contractors use that system – bringing all participants into a common database that the Owner controls long-term. Others will require their consultants – and the Project Manager in particular – to deliver the controls and reporting to new levels.
Project Management companies servicing capital works projects for their Clients in any industry will establish leadership and competitive advantage through the control and reporting systems they bring to the engagement.