Company's Fast Track for CPIC Budgeting Solution Updated with New Requirements.
ARLINGTON, VA - ProSight® Inc., the leader in Enterprise Investment Management, today announced that the most recent version of its Fast Track for Capital Planning and Investment Control (CPIC) Budgeting solution incorporates all updated requirements issued by the Office of Management and Budget (OMB) for 2008 budget year Exhibit 300/53 submissions. Issued in April, the new OMB guidance presents significant changes to the previous submission criteria, including support for different reporting requirements by investment type; linkage between system inventory and high-level security/privacy; streamlined alternatives analysis and risk management questions; increased focus on milestone planning and Earned Value Management (EVM); as well as character limitations in all text fields.
"Changes in OMB guidance often pose a challenge for some tool vendors and a delay in the capital planning process for some agencies," said S. Caine O'Brien, ProSight's vice president of marketing. "ProSight is not only committed to providing timely updates to support this guidance, but our unique portfolio management platform enables us to produce a fully QA'd implementation in far less time than alternative approaches."
ProSight's solutions for CPIC budgeting, Exhibit 300/53 submissions, and Federal Information Security Management Act (FISMA) compliance are based on portfolio management infrastructure and processes. Customers capture business cases, prioritize them, and select the best ones to fund based on the impact on the business. Built-in pre-scoring helps agencies build the strongest possible business cases. Rather than focusing solely on meeting the OMB's reporting requirements, submission of Exhibits 300/53 to the OMB becomes a side-effect of good portfolio management processes.
ProSight's Fast Track for CPIC Budgeting is a complete solution for agencies to capture, prioritize, and select the best business cases for funding submission to the OMB. The upgraded version shipped in May 2006. It incorporates all required updates issued by the OMB, as well as an Exhibit 300/53 Export Utility and an optional EVM Extension providing data collection and automated calculation for earned value metrics. Leveraging ProSight's CPIC budgeting and FISMA tools that reside in a shared system of record enables agencies to meet the new OMB requirement for linking system inventory and security/privacy.
"ProSight's CPIC solution is able to import XML business cases created in other tools," O'Brien added. "Agencies using tools that are not getting updated in a timely fashion can simply provide their XML business cases in their current form and ProSight will import them into ProSight Portfolios for further refinement, prioritization, and timely submission."
ProSight offers world-class Enterprise Investment Management solutions for government and business. These solutions drive the planning and control for all types of business or technology investments, deploying objective, auditable processes and metrics, while facilitating collaboration among all stakeholders. ProSight's customers get rapid results, including rationalization of current spending, optimization of support for the business, and active governance to obtain the highest possible return on investment. For more information on ProSight and our customers' success, visit www.prosight.com.
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