Understanding FAR Earned Value Management System (EVMS) Reporting Requirements
In today’s federal market, responding to government solicitations in a timely and complaint manner is ever-more challenging. Understanding FAR earned value management system reporting requirements is not easy.
Many small or medium size federal contractors who are responding to federal solicitations may have another obstacle: how to comply with Earned Value Management System RFP (Request for Proposal) requirements.
Simply said, Earned Value Management (EVM) is an integrated project management methodology that utilizes a set of integrated core project management principles (e.g., scope, schedule and budget) to assess and measure project performance.
For those companies that have not implemented EVMS as part of their project management process framework , FAR 52.234-3, Post-award Integrated Baseline Review allows a company that has not been determined to be in compliance (e.g., by a cognizant federal Agency or DCMA) with the Electronic Industries Alliance Standard 748 (EIA-748) to submit a comprehensive EVMS plan with the 32 EVMS guidelines as part of their RFP submission.
For example, FAR 52.234-3, states the following:
“Offerors shall not be eliminated from consideration for contract award because they do not have an EVMS that complies with these standards.”
The plan shall:
(i) Describe the EVMS the offeror intends to use in performance of the contracts;
(ii) Distinguish between the offeror’s existing management system and modifications proposed to meet the guidelines;
(iii) Describe the management system and its application in terms of the EVMS guidelines;
(iv) Describe the proposed procedure for administration of the guidelines, as applied to subcontractors; and
(v) Provide documentation describing the process and results of any third-party or self-evaluation of the system’s compliance with the EVMS guidelines.
To learn more about how to write a compliant RFP EVMS Plan, call Basil Soutos, CEO of Samos Advisors LLC, at 703-409-5941 or email bsoutos@samosadvisors.com.
