Integrating Financial Management into the Fiber of Programs and Operations through Transformational Change Management Initiatives
Jun 30, 2014
From the Government Institute
Federal agencies face continuing budget constraints for which the future will become ever more difficult, as the federal government begins to more fully address the daunting reality of its widely recognized, unsustainable long-term fiscal path.
These reductions will require ever-tougher decisions and increasingly difficult trade-offs between wants and needs. Also required will be better information on cost and performance and strong partnerships between program and financial managers.
This Issue Brief addresses an important facet of federal agency efforts to face fiscal challenges and drive down costs, while improving performance as they move to a new norm of continuing tight budgets and increasing expectations of doing more with less and less.
The linking of the chief financial officer (CFO) into agency-wide programs and operations, whereby there is greater integration of disciplines, will help move agencies to data-driven strategic decision-making organizations.
Today, we are seeing federal agencies embark on this financial-management transformation. There are a number of elements that must be present for successful change management. This Issue Brief focuses on three of these elements.