PRICE Systems Develops a Web-based, Self Diagnostic Tool to Aid Government Agencies with GAO Cost Assessment Guide Compliance

30 September 2008

The release of a new, simple to use, diagnostic tool for federal government agencies and government contractors to perform self evaluation based on the GAO Cost Assessment Guide requirements was announced today by PRICE Systems, the world leader in estimation tools and solutions and developer of the newly released TruePlanning® 2008.

This new tool entitled “GAO Self Diagnostic Tool” includes a series of five questions created to benchmark a program office’s current environment and methodologies relating to cost management. This benchmark is compared to the standards established in the GAO Cost Assessment Guide and offers informed recommendations the program office can take to improve their compliance. According to Larry Reagan, Vice President of the Government Solutions Division at PRICE Systems, “This self diagnostics tool provides a great first step, in 5 minutes or less, in determining whether a project management office is adequately trained, equipped with the proper tools, and has repeatable methodologies to comply with the Cost Assessment Guide.” The results of the self evaluation can be printed and used as a roadmap for improvement.

A user can expect to answer simple multiple choice questions on how their team estimates cost, assess their collective experience in estimating, and how their estimating practice is integrated within the program office environment. Scoring is based on letter grades and assessed in the following categories:

- Your team
- Metrics and Knowledge
- Repeatable methods
- Credible results

In addition to letter grade scoring, recommendations tailored to the individual categories are provided as well. “It is vital to the program office and agency that they are in compliance with the GAO’s Cost Assessment Guide and best practices, especially considering the ramifications if they aren’t”, said Larry Reagan. “This simple diagnostic tool will help guide managers in assessing their needs and addressing any deficiencies.”

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