Risk Management
Agencies need to actively manage risk to assess the applicant’s capabilities to deliver the proposed results. In order to do this, agencies need to have ready access to performance data and have the data infrastructure to include performance in risk modeling. The recent proposed updates to OMB guidance on grants included requirements for performance reporting in grants, however there is much more that can be done to identify practices and data tools to enable agencies to incorporate performance into their grant award operations. This strategy also recognizes there is an opportunity to reform the Single Audit requirements and process to improve the management of risk.