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Started: 8/28/2019 7:29 PM
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ERIC NEMOSECK
DoD Financial Management - More Money, More Problems

The Department of Defense (DoD) has experienced several major muscle movements since Fiscal Year (FY) 2016. Congress provided DoD with flexible options to complete acquisition and business endeavors in support of national defense. These additional options and potential near-term changes are intended to significantly transform the way DoD conducts business.

Besides acquisition enhancements, Congress provided DoD a record high budget amount for FY 2019. Furthermore, the president's FY 2020 budget request for DoD included the largest amount for research and development in 70 years. Although DoD's acquisition options have been modernized in recent years, the processes by which DoD receives and allocates its funding have not been modernized to the same extent. Unprecedented funding levels tend to erode financial management discipline, and DoD must execute in a manner that provides accountability and maximum value to its ultimate stakeholder—American taxpayers. To complete acquisitions at the speed of relevance and produce the most efficient business outcomes, DoD needs to transform its business processes that support and complement the various acquisition alternatives. This article assesses the current environment and provides suggestions that could allow DoD to achieve its ultimate objectives in the new era of acquisition.

Read More Here:

https://www.dau.edu/library/defense-atl/blog/DoD-Financial-Management

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  • ERIC NEMOSECK
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ERIC NEMOSECK

The Department of Defense (DoD) has experienced several major muscle movements since Fiscal Year (FY) 2016. Congress provided DoD with flexible options to complete acquisition and business endeavors in support of national defense. These additional options and potential near-term changes are intended to significantly transform the way DoD conducts business.

Besides acquisition enhancements, Congress provided DoD a record high budget amount for FY 2019. Furthermore, the president's FY 2020 budget request for DoD included the largest amount for research and development in 70 years. Although DoD's acquisition options have been modernized in recent years, the processes by which DoD receives and allocates its funding have not been modernized to the same extent. Unprecedented funding levels tend to erode financial management discipline, and DoD must execute in a manner that provides accountability and maximum value to its ultimate stakeholder—American taxpayers. To complete acquisitions at the speed of relevance and produce the most efficient business outcomes, DoD needs to transform its business processes that support and complement the various acquisition alternatives. This article assesses the current environment and provides suggestions that could allow DoD to achieve its ultimate objectives in the new era of acquisition.

Read More Here:

https://www.dau.edu/library/defense-atl/blog/DoD-Financial-Management

08/28/2019 7:29 PM8/28/2019 7:29 PMNoGeneral
49.0938159722222
18/31/2017 5:10 PM1
ERIC NEMOSECK
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