Information Technology: OPM Needs to Adopt Key Practices in Modernizing Legacy Financial System, Report to Congressional Committees [open pdf - 4MB]
From the Highlights: "OPM [U.S. Office of Personnel Management]'s legacy financial system, FFS [Trust Funds Federal Financial System], helps manage over $1 trillion in combined assets and supports over 8 million federal employees and retirees. However, according to OPM, FFS is outdated and consists of unsupported software. In fiscal year 2017, OPM created the Trust Funds Modernization (TFM) Program to replace FFS. In 2019, the agency selected a shared service provider to provide the replacement system. The House report accompanying the Consolidated Appropriations Act, 2020 included a provision for GAO [Government Accountability Office] to examine OPM's effort to modernize and replace FFS. This report (1) describes the status of OPM's effort to modernize and replace FFS; (2) evaluates the progress OPM has made in implementing key modernization practices for using a shared service provider; and (3) determines to what extent the TFM program has adopted leading practices for requirements management, cost and schedule estimation, and cybersecurity."
Government Accountability Office: https://www.gao.gov/