BUDGET SYSTEM the Hyperion REFURBISHMENT Budgeting solution - - PDF document

BUDGET SYSTEM REFURBISHMENT BUSINESS CASE

V 1.12

A Project to upgrade

• r

rearchitect the Hyperion Budgeting solution

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Table of Contents

Table of Contents .......................................................................................................... 1

• 1. Executive Summary

................................................................................................. 2

• 2. General Project Information

.................................................................................... 3

• 3. Project Description .................................................................................................. 4

3.1 Business Need ................................................................................................ 4 3.2 Goals ............................................................................................................... 5 3.3 Stakeholders ................................................................................................... 5 3.4 Risks/Issues .................................................................................................... 6

• 4. High-Level Business Impact ................................................................................... 6
• 5. Options and Cost Analysis ..................................................................................... 7

5.1 Option A .......................................................................................................... 7 5.2 Option B .......................................................................................................... 9 5.3 Option C ........................................................................................................ 11 5.4 Option D ........................................................................................................ 12

• 6. Financial Considerations ...................................................................................... 13

6.1 Cost Benefits Analysis Summary .................................................................. 13 6.2 Return on Investment (ROI) – based on 5-year life span .............................. 13 6.3 Payback Period – Based on initial year cost ................................................. 14

• 7. Recommended Option

........................................................................................... 14 7.1 Option B – Implement Oracle’s Planning and Budgeting Cloud Solution (PBCS) .......................................................................................................... 14

• 8. Preliminary Acquisition Strategy/Plan ................................................................. 15
• 9. Preliminary Work Breakdown Structure .............................................................. 16
• 10. Assumptions and Constraints

.............................................................................. 17 Project Assumptions ................................................................................................ 17 Project Constraints ................................................................................................... 17 Approvals ..................................................................................................................... 18 Record of Changes ..................................................................................................... 19 Acronyms ..................................................................................................................... 20 Glossary ....................................................................................................................... 21 Referenced Documents .............................................................................................. 22

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• 1. Executive Summary

San Diego County Office of Education (SDCOE), through its Education Business Systems (EBS) division,

• ffers an Enterprise Performance Management (EPM) platform to deliver budgeting capabilities to

potentially 45 Local Education Agencies (LEA). To date, 28 LEA’s have been configured with a budgeting

• application. Of these, only 8 LEA’s are actively engaged with the use of this application. With 18% of

potential LEA’s currently on the solution, a gap analysis was conducted to determine what requirements were needed to bring the other LEA’s on board. Through surveying several districts, it was determined that key functionalities deemed necessary for LEA standard operating procedures were needed. These districts have identified several pain points about the current platform that are preventing them from implementing the budgeting system. These pain points include:  Frustration with the lack of reporting and forecasting capabilities  Frustration with the overall usability of the solution  Frustration with initial setup and configuration of the solution  Frustration with limited system accessibility To counteract these pain points, districts have turned to alternatives for their budgeting needs. These alternatives include MS Excel, Budget Preparation System (BPS – district legacy system), and third-party budgeting solutions. In addition to these pain points, EBS has identified the lack of Oracle technical support (which has been suspended since May of 2018), manual processes regarding data configuration and integration, and limited testing methodology as causes for concern. Taking into consideration both district pain points and EBS concerns, EBS has reviewed four potential

• ptions to pursue in this project. These options include:

 Option A: Keep the current Hyperion system in place with no changes or upgrades  Option B: Implement Oracle’s Hyperion Planning and Budgeting Cloud Solution (PBCS). This option moves from an on-premise Hyperion solution into a cloud-based budgeting solution that includes reporting and forecasting features not included in the premise-based solution  Option C: Upgrade to a more recent version (11.1.2.4) of Hyperion On-Premise Solution  Option D: Implement a stand-alone K-12 budgeting solution– an integrated HR, position control, gross payroll and budgeting application Based on a comprehensive review and detailed cost benefits analysis of each of these options, it is EBS’s recommendation that Option B: Implement Oracle’s Hyperion Planning and Budgeting Cloud Solution (PBCS), should be pursued in this project. It is the goal of the Hyperion EPM Refurbishment Project to address these business concerns and implement a solution that will increase customer satisfaction and usability, lower operating and labor costs, and entice more LEA participation.

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• 2. General Project Information

Table 2A: Project Information

Project Name Enterprise Performance Management (EPM) Refurbishment Project Requested By Mark Zecca Business Case Owner Wendyl Aban Contact Info. E-mail: wendyl.aban@sdcoe.net Office: (858) 569-3011 Desired Start Date March 15, 2019 The following individuals comprise the business case analysis team. They are responsible for the analysis and creation of the EPM Refurbishment project business case.

Table 2B: Project Team

Role Description Name/Title Executive Sponsor Provide executive support for the project Mark Zecca, Executive Director EBS Technology Support Provides all technology support for the project Andrew Esserman, Senior Director EBS Process Improvement Advises team on process improvement techniques Shauna Stark, Senior Manager EBS Project Manager Manages the business case and project team Wendyl Aban, Project Manager EBS Lead Functional Resource Provides all software support for the project Leah Bubel, Functional Systems Analyst EBS CRC Support SME Provides issues review and escalation Barbara Thiss, Supervisor CRC CRC Support SME Provides documentation support and issues analysis Kay Pugh, Systems Analyst CRC CRC Support SME Provides documentation support and issues analysis Kimberly Harrison, Systems Analyst CRC

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• 3. Project Description

3.1 Business Need

Currently, Education Business Systems (EBS) utilizes a version of Oracle’s Hyperion Enterprise Performance Management On-Premise (EPM) platform. Initially, the Hyperion EPM platform was implemented where EBS breadth of knowledge regarding its functionality was lacking. Today, EBS subject matter experts have a much more robust understanding of its functionality and have identified, in conjunction with district users, several deficiencies with its current platform. These deficiencies manifest themselves in several key areas to include technology support, accessibility, data integration and configuration, reporting, forecasting, and user experience. Going forward, failure to address these deficiencies will result in the loss of productivity and efficiency, loss of data integrity, loss of user confidence, and higher costs. Anticipated Outcomes The Hyperion EPM Refurbishment project will have the ability to enhance or address several business processes and functionalities that are insufficient or lacking in the current platform. For the project to be successful, several criteria must be met that will address district pain points and EBS concerns. These include:  Adding reporting and forecasting capabilities  Enhancing system accessibility and flexibility that will allow for multiple browsers and modalities  A user interface that makes navigation intuitive and less cumbersome for data processing  Oracle technology support  Providing automation for data configuration and integration  Enhancing testing methodology By addressing these pain points and concerns, the project will realize a:  50% immediate reduction of processing time due to automation  100% immediate increase in reporting and forecasting capability  100% immediate increase in Oracle technical support to address system issues affecting mission critical processes  100% immediate increase in user experience and satisfaction Justification The migration from the current platform to an upgraded EPM solution will result in greater efficiency with regards to business processes and user satisfaction. The upgraded EPM solution is also aligned with corporate strategy and objectives since it uses technology to improve the way the county and districts do

• business. While other options and the status quo were analyzed, an EPM solution upgrade was selected for

proposal in this business case because it provides the best opportunity to realize benefits in an expedited manner while also allowing for the greatest improvement in efficiency and cost reduction. Other options assumed greater risk, provided less benefits, were too difficult to define, or were not suitably aligned with current corporate strategy and/or objectives.

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3.2 Goals

The following table lists the key goals and their anticipated business outcomes in measuring the performance of the project. These performance measures will be quantified and further defined in the detailed project plan.

Table 3.2 Goals Performance Measure

Reporting The upgraded EPM solution will provide reporting capabilities that are not offered in the current platform. Forecasting The upgraded EPM solution will provide forecasting capabilities that are not offered in the current platform. Accessibility The upgraded EPM solution will provide users with the ability to access the solution using different browsers and different modalities such as desktop, laptop, tablet, and mobile device. User Interface The upgraded EPM solution will provide a user interface that will make navigation intuitive and less cumbersome for tasks such as data processing Technical Support The upgraded EPM solution will provide technical support that is not offered in the current platform. Data Integration The upgraded EPM solution will provide for automated data integration between the HCM and Finance divisions leading to better data integrity. Testing Methodology The upgraded EPM solution will provide better mirroring between production and test environments leading to increased testing efficiency and efficacy.

3.3 Stakeholders

Table 3.3

Account Technician Budget and Accounting Manager Chief Financial Officer Finance Director Accountant Business Manager Controller Financial Accountant Accounting Director Business Services Specialist Director, Fiscal Services Fiscal Services Manager Assistant Superintendent, Business Services Buyer Executive Director, Accounting/Payroll Personnel Manager Budget Analyst Chief Business Officer Executive Director, Fiscal Services Purchasing Agent

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3.4 Risks/Issues

Table 3.4

Risk Risk Mitigation  Implementation of a budgeting system without reporting and forecasting capabilities  Thoroughly review budget system options to ensure the selected platform has reporting and forecasting capabilities  Implementation of a budgeting system that does not have a user-friendly interface  Thoroughly review budget system options to ensure selected platform has an intuitive, user- friendly interface  Vendor cannot be identified that will fully meet all business needs  Thoroughly vet potential vendors from a target list, and ensure they can fully meet all business needs

• 4. High-Level Business Impact

The Hyperion EPM Refurbishment project will impact SDCOE and districts in several ways. The following provides a high-level explanation of how the organization, tools, processes, and roles and responsibilities will be affected because of the project: Tools: the current platform will be phased out completely as the upgraded EPM solution is stood up and becomes operational. This will require training for SDCOE and district users on the upgraded EPM solution tools and its use in support of other organizational tools. Processes: with the refurbishment of the Hyperion EPM solution project comes more automated and streamlined business processes. This improved efficiency will lessen processing times thereby saving resource bandwidth and increasing client satisfaction. Roles and Responsibilities: EBS resources can decrease time required to perform updates and refreshes, allowing for the re-allocation of their time towards, for example, one-on-one telephone or on-site district support.

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• 5. Options and Cost Analysis

The following is an overview of the various options that were considered for the Hyperion EPM Refurbishment project. These options include: (A) Keeping the current Hyperion system in place with no changes or upgrades (B) Implementing Oracle’s Planning and Budgeting Cloud solution (PBCS) (C) Upgrading to a more recent version of Hyperion On-Premise Solution (D) Implementing a stand-alone K-12 budgeting solution A pro versus con table, and cost analysis tables are included for each option. Assumptions:  Number of users will increase to 200, across all LEAs, after implementation of the new solution due to a distributed budgeting model  5-year lifespan for the implemented option

5.1 Option A

Keep the current Hyperion system in place with no changes or upgrades. Table 5.1a: Pro v. Con Table

Pro Con No additional ongoing cost for current solution Reporting capability not implemented No additional licensing costs Forecasting capability not implemented Accessibility limited to only one browser – Internet Explorer User interface is menu driven, not intuitive, very cumbersome No Oracle support for current version Continuing Hyperion Server hosting costs

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Table 5.1b: Option A Cost Analysis based on a 5-year lifespan

Action Action Type Description Value of cost/savings Ongoing cost of current solution Cost Ongoing cost of current solution $0.00 Licensing Cost Original Oracle Licensing cost $0.00 Maintenance/Support Cost Standard Oracle maintenance/support fees are 20% of initial implementation cost ($344,178 * 20%) $68,836/yrly Hyperion Server hosting Cost Cost to host Hyperion Servers per month ($9048/month * 12) $108,576/yrly Oracle technical support Cost Potential cost of hiring outside consultant/contractor to fix system issues. Oracle technical support has been discontinued for the current platform $95,000/yrly Manual Intervention Cost Annual cost of employee manual intervention to perform imports and refreshes $15,000/yrly Testing Cost Annual cost related to time spent by EBS and district employees to test $12,000/yrly Total 5 year cost $1,497,060 * This option presents the problem of continuing to use a software version that is already out of the support window since May 2018. Oracle no longer supports this version of Hyperion. **LEA’s have an option of purchasing a third-party budgeting system at an average cost of $80,000 a year which includes annual maintenance fees, licensing and support

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5.2 Option B

Implement Oracle’s Planning and Budgeting Cloud Solution (PBCS). This option moves from an

• n-premise Hyperion solution into a cloud-based budgeting solution that includes reporting and

forecasting features not included in the premise-based Hyperion solutions. Table 5.2a: Pro v. Con Table

Pro Con Reporting capability Initial implementation, consulting, and training costs Forecasting capability Per user fee Multiple browser accessibility for Safari, Chrome, Internet Explorer 10&11, and Firefox 31 ESR Accessible through tablet, mobile, desktop, and laptop modalities Enhanced and streamlined tile driven user interface. Very intuitive Ability to automate processes through EPM Automate utility No Hyperion Server Hosting costs No licensing fees Oracle technical support

Table 5.2b: PBCS Cost Model

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Table 5.2c: Option B Cost Analysis based on 5-year life span

Action Action Type Description Value of cost/savings Purchase cloud-based product, various installation/consulting fees, training Cost Initial investment for the Planning and Budgeting Cloud Solution (PBCS) solution $392,000 User Fee Cost See Table 6.2a Cost Model above for 200

• users. This is the projected number of users

that will be using PBCS county wide $100,800/yrly Hyperion Server Hosting Savings Cost savings from no longer hosting the Hyperion servers ($9048/month * 12) $108,576/yrly Licensing Savings Returning licenses will recover 33% up to $60k

• f annual user fee ($100,800 * 33%)

$33,264/yrly Reduce manual intervention Savings An immediate reduction in time spent by employees to manually perform imports and refreshes. $15,000/yrly Oracle technical support Savings Potential savings from hiring outside consultant/contractor to fix system issues. Oracle technical support has been discontinued for the current platform. $95,000/yrly Increased testing efficiency Savings An immediate reduction in time spent by EBS and district employees to test. $12,000/yrly Total 5 year cost $896,000 Total 5 year savings $1,319,200 *LEA’s have an option of purchasing a third-party budgeting system at an average cost of $80,000 a year which includes annual maintenance fees, licensing and support Table 5.2d: Straight Line Depreciation of PBCS solution assuming 5-year life span Year Book Value (Beginning of Year) Depreciation Book Value (End of Year) 1 $492,800 $98,560 $394,240 2 $394,240 $98,560 $295,680 3 $295,680 $98,560 $197,120 4 $197,120 $98,560 $98,560 5 $98,560 $98,560 $0.00

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5.3 Option C

Upgrade to a more recent version (11.1.2.4) of Hyperion On-Premise Solution Table 5.3a: Pro v. Con Table

Pro Con Reporting capability User interface is menu driven, not intuitive, very cumbersome Forecasting capability Additional cost to upgrade to most current version Oracle to suspend support for version 11.1.2.4 on December 2020 Continuing Hyperion Server Hosting costs Accessibility limited to only one browser – Internet Explorer

Table 5.3b: Option C Cost Analysis based on 5-year life span

Action Action Type Description Description Value of cost/savings Value of cost/savings Upgrade to version 11.1.2.4 Cost Installation of version 11.1.2.4 Hyperion Planning and Financial Data Quality Management Enterprise Edition (FDMEE) $210,000 Upgrade to version 11.1.2.4 Cost *** Installation of version 11.1.2.4 Hyperion Planning and Financial Data Quality Management Enterprise Edition (FDMEE) and Personnel Plan Rebuild $485,000 Hyperion Server Hosting Cost Cost to host Hyperion Servers per month ($9048/month * 12months) $108,576/yrly $108,576/yrly Reduce manual intervention Savings An immediate reduction in time spent by EBS employees to manually perform imports and refreshes. $15,000/yrly $15,000/yrly Oracle technical support Savings Potential savings from hiring outside consultant/contractor to fix system

• issues. Oracle technical support has

been discontinued for the current platform. $95,000/yrly $95,000/yrly Total 5 year Cost $752,880 $1,027,880 Total 5 year Savings $550,000 $550,000

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*Personnel Plan Rebuild adds position control and project planning functionality. **LEA’s have an option of purchasing a third-party budgeting system at an average cost of $80,000 a year which includes annual maintenance fees, licensing and support

5.4 Option D

Implement a stand-alone K-12 budgeting solution – an integrated HR, position control, gross payroll and budgeting application

Table 5.4a: Pro v. Con Table

Pro Con Reporting capability Initial costs to implement, configure, and train User interface is tab driven, very intuitive, easy to navigate No forecasting capability, but can setup “What-If” scenarios K-12 budgeting solution technical support Annual subscription fee Requires users to perform double entry to the budgeting solution and to PeopleSoft HCM Requires constant manual maintenance throughout the year

Table 5.4b: Option D Cost Analysis based on 5-year life span

Action Action Type Description Value of cost/savings Purchase stand-alone K-12 budgeting solution with subscription and service fees Cost Cost for SDCOE if all 8 LEAs on Hyperion adopted third party system $640,000/yrly Total 5 year Cost Cost $3,200,000 Total 5 year Cost Cost Subtracting the cost of the current Hyperion system ($1,702,940)

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• 6. Financial Considerations

6.1 Cost Benefits Analysis Summary

Option A – Keep Current System Option B – Implement PBCS solution Option C1 – Upgrade to more recent version Option C2 – Upgrade to more recent version Option D – Implement popular K- 12 budgeting solution Total 5-year cost $1,497,060 $896,000 $752,880 $1,027,880 $3,200,000 Total 5-year savings or (cost) $0 $1,319,200 $550,000 $550,000 ($1,702,940) Benefit-Cost Ratio 1.47 0.73 0.54

• 0.53

*** A benefits cost ratio greater than 1 is expected to bring positive value to a project

6.2 Return on Investment (ROI) – based on 5-year life span

Option B – Implement PBCS solution

ROI = [(Savings – Cost)/Cost] * 100 ROI = [($1,319,200 - $896,000) / $896,000] * 100 47%

Option C – Upgrade to more recent version of Hyperion On-Premise solution

ROI = [(Savings– Cost)/Cost] * 100 ROI1 = [($550,000 – $1,027,880) / $550,000] * 100 ROI2 = [($550,000 – $752,880) / $550,000] * 100

• 87% to -37%

Option D – Implement stand-alone K-12 budgeting solution

ROI = [(Savings – Cost)/Cost] * 100 ROI = [($0-$3,320,000)) / $3,320,000] * 100

• 100% plus

*** The higher the ROI percentage, the better the investment

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6.3 Payback Period – Based on initial year cost

Option B – Implement PBCS solution

Payback Period (years) = Initial year cost / Initial year savings PP = $492,800 / $263,840 1.87 yrs.

Option C – Upgrade to more recent version of Hyperion On-Premise solution

Payback Period (years) = Initial year cost / Initial year savings PP1 = $318,576 / $110,000 PP2 = $593,576 / $110,000 2.9 yrs. to 5.4 yrs.

Option D – Implement stand-alone K-12 budgeting solution

Payback Period (years) = Initial year cost / Initial year savings No payback

• 7. Recommended Option

7.1 Option B – Implement Oracle’s Planning and Budgeting Cloud Solution (PBCS)

Various options were analyzed to determine the best way to leverage technology to improve the business processes and reduce the costs for districts and within EBS. The approach described herein allows EBS and districts to meet its corporate objectives of continuously improving efficiency, reducing costs, and capitalizing on technology. The recommended Planning and Budgeting Cloud Solution (PBCS) option will methodically migrate functionality of the current platform to the new cloud-based solution to preserve current functionality and allow adequate time to train all users on their responsibilities and respective administrative functions. The implementation of a Planning and Budgeting Cloud Solution (PBCS) was the clear-cut choice for its ability to address and alleviate both district pain points and SDCOE-EBS concerns regarding:  Lack of reporting and forecasting capabilities by providing a battery of reports and dashboards useful for planning, forecasting, and real-time analytics.  Frustration with the overall usability of the current solution by providing district users with intuitive ease of navigation for data processing  Frustration with initial setup and configuration of the current solution by providing subject matter expertise to guide districts/SDCOE through configuration and setup of PBCS

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 Frustration with limited system accessibility by providing multiple browser access, multiple device access, quicker turn-around times for refreshes, and less system downtime resulting in less frustration  Lack of Oracle technical support that was discontinued in May of 2018 for the current platform. Implementation of PBCS will once again provide EBS with Oracle technical support.  Manual data integration process by providing automation for file imports. Currently, EBS subject matter experts must perform manual data imports when a budget year refresh is

• requested. These refreshes can take from 2 to 4 days to perform. Initial estimates indicate

that the cloud-based solution will be able to perform automatic imports at half the time saving money and manpower allowing these resources to be allocated elsewhere.  Limited testing methodology by providing enhanced testing methodology. Testing fixes and updates will also be easier through the cloud-based solution due to its ability to mirror and copy the live/production environment to the test environment. This will give testers up-to-the- minute data increasing both efficiency and efficacy for data validation. Furthermore, a review of the Cost Analysis, Return on Investment (ROI), and Payback Periods of each of the different options offered pointed to the implementation of the Planning and Budgeting Cloud Solution (PBCS) as the most sensible choice.

• 8. Preliminary Acquisition Strategy/Plan

The Hyperion EPM Refurbishment project will engage the SDCOE Request for Proposal (RFP) process for the implementation of the selected solution. Each proposal will be evaluated by the project team, based on a scoring system, to determine which vendor can best deliver the business requirements. Once selected, the project will replace the existing system in a phased implementation approach and be completed once the new system is operational and the legacy system is archived and no longer in use.

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• 9. Preliminary Work Breakdown Structure

Budgeting System Project 1 Initiation 1.1 Evaluation & Recommendations 1.1.1 Develop Project Charter 1.1.2 Deliverable: Submit Project Charter 1.1.3 Project Sponsor Reviews Project Charter 1.1.4 Project Charter Signed/Approved 1.1.5 Planning 1.2 Create Preliminary Scope Statement 1.2.1 Determine Project Team 1.2.2 Project Team Kickoff Meeting 1.2.3 Develop Project Plan 1.2.4 Submit Project Plan 1.2.5 Milestone: Project Plan Approved 1.2.6 Execution 1.3 Project Kickoff Meeting 1.3.1 Verify & Validate User Requirements 1.3.2 Design System 1.3.3 Procure Hardware/Software 1.3.4 Install Development System 1.3.5 Testing Phase 1.3.6 Install Live System 1.3.7 User Training 1.3.8 Go Live 1.3.9 Control 1.4 Project Management 1.4.1 Project Status Meetings 1.4.2 Risk Management 1.4.3 Update Project Management Plan 1.4.4 Closeout 1.5 Audit Procurement 1.5.1 Document Lessons Learned 1.5.2 Update Files/ Records 1.5.3 Gain Formal Acceptance 1.5.4 Archive Files/ Documents 1.5.5

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• 10. Assumptions and Constraints

Project Assumptions

The following assumptions apply to the Hyperion EPM Refurbishment project. As project planning begins and more assumptions are identified, they will be added accordingly.  All staff, employees, users will be trained accordingly in their respective roles and responsibilities on the new cloud-based solution  Funding is available for training  Funding is available for purchasing cloud-based services  Funding is available for purchasing/yearly licensing  All department heads will provide necessary support for successful project completion  Project has executive-level support and backing

Project Constraints

The following constraints apply to the Hyperion EPM Refurbishment project. As project planning begins and more constraints are identified, they will be added accordingly.  There are limited IT resources available to support the Hyperion EPM Refurbishment project and other,

• ngoing, IT initiatives.

 There are a limited number of commercial off the shelf (COTS) products to support planning, budgeting, and forecasting.

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Approvals

The undersigned acknowledge that they have reviewed the Business Case and agree with the information presented within this document. Changes to this Business Case will be coordinated with, and approved by, the undersigned, or their designated representatives.

Signature: Date: Print Name: Title: Role: Signature: Date: Print Name: Title: Role: Signature: Date: Print Name: Title: Role:

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Record of Changes

Table A1: Record of Changes

Version Number Date Author/Owner Description of Change

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Acronyms

Table B1: Acronyms

Acronym Literal Translation COTS Commercial Off-The-Shelf CRC Customer Resource Center EBS Enterprise Business Systems EPM Enterprise Performance Management HCM Human Capital Management ITS Information Technology Services PBCS Planning and Budgeting Cloud Solution RFP Request for Proposal ROI Return On Investment SDCOE San Diego County Office of Education SME Subject Matter Expert WBS Work Breakdown Structure

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Glossary

Table C1: Glossary

Term Definition Benefit-Cost Ratio A benefit-cost ratio (BCR) is an indicator used in cost-benefit analysis to show the relationship between the relative costs and benefits of a proposed project, expressed in monetary or qualitative

• terms. If a project has a BCR greater than 1.0, the project is

expected to deliver a positive net present value to a firm and its investors. Enterprise Performance Management (EPM) Enterprise Performance Management (EPM) is a type

• f business planning that relates to business intelligence (BI), which

involves evaluating and managing performance for an enterprise to reach performance goals, enhance efficiency or maximize business processes. Human Capital Management (HCM) Human capital management (HCM) is a set of practices related to people resource management. These practices are focused on the

• rganizational need to provide specific competencies and are

implemented in three categories: workforce acquisition, workforce management and workforce optimization. Payback Period The length of time required for an investment to recover its initial

• utlay in terms of profits or savings.

Planning and Budgeting Cloud Solution (PBCS) Planning and Budgeting Cloud (PBCS) is a complete planning, budgeting, and forecasting solution that enables

• rganizations of any size to rapidly adopt world-

class planning applications, improving forecast accuracy with minimal IT resources. Request for Proposal (RFP) A request for proposal (RFP) is a document that solicits proposal,

• ften made through a bidding process, by an agency or company

interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals. Return on Investment (ROI) Return on Investment (ROI) is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of several different investments. Work Breakdown Structure (WBS) A work breakdown structure (WBS) is a key project deliverable that

• rganizes the team's work into manageable sections. The Project

Management Body of Knowledge (PMBOK) defines the work breakdown structure as a "deliverable oriented hierarchical decomposition of the work to be executed by the project team."

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Referenced Documents

Table D1: Referenced Documents

Document Name Document Location and/or URL Issuance Date