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CIO Council, ACT-IAC Launch Updated Tool for Managing Agencies’ IT Spending

1 min read
Federal Financial
Federal Financial Management

The CIO Council has partnered with ACT-IAC to update a framework intended to help agencies improve transparency and financial management in their information technology initiatives.

The IT spending maturity model comes as part of a joint effort between the council’s Federal Technology Investment Management (FTIM) community of practice (CoP) and ACT-IAC’s IT Management and Modernization (ITMM) community of interest (CoI), FTIM CoP said Wednesday.

ACT-IAC and the CIO Council’s free model works to visualize IT spending and quantify metrics for financial management while ensuring compliance with Technology Business Management (TBM) standards.

Both government and commercial best practices were also considered as part of the tool’s development, according to FTIM CoP. Modernization ofthe spending model comes as part of efforts to address a directive under the Federal Data Strategy 2020 Action Plan to improve standards for financial management data.

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