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


Program offices can now conduct their own assessments on cost estimating practices and competencies.

MT. LAUREL, N.J., Sept. 23 /-- 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 (www.pricesystems.com), the world leader in estimation tools and solutions and developer of the newly released TruePlanning(R) 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

To review and access to the "GAO Self Diagnostics Tool," simply go to: http://pricesystems.com/GAOdiagnostics.

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."

About PRICE Systems

PRICE Systems (http://www.pricesystems.com/), the world leader in estimation tools and solutions, improves customers' profitability by optimizing planning, budgeting and management. PRICE solutions accurately estimate the effort, schedule and cost of the projects using unbiased models and benchmarks that eliminate inaccurate biases and misconceptions. As PRICE customers improve accuracy they realize better returns on investments and higher profits.

Established in 1975 with offices in the United States, Europe, and Asia-Pacific, PRICE Systems serves customers worldwide with more than 11,000 project professionals trained in the company's cost estimating and analysis methodologies.

CONTACT: Christopher J. Pfister, Director of Marketing of PRICE Systems L.L.C., +1-856-608-7219, chris.pfister@pricesystems.com

Web Site: http://www.pricesystems.com/

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