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OMB Says Financial Modernization Review Will Result In Lower Costs
The financial system modernization projects halted for review by the Obama administration will likely eventually win approval, but with smaller price tags, lower risk and a faster deployment schedule, according to the Office of Management and Budget (OMB). OMB Budget Controller Danny Werfe says in a wide-ranging critique of federal policy on information technology procurement, "projects are too big, cost too much and take too long to "go live." The Obama administration announced June 28 it is freezing future investment in at least 20 projects worth billions of dollars. OMB will review the projects this summer with the help of a six-member advisory board of chief financial officers and chief information officers from a half-dozen agencies, including the Veteran Affairs and Housing and Urban Development departments and the National Institutes of Health.

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