A Comparative Analysis of Advanced Methodologies to Improve the Acquisition of Information Technology in the Department of Defense for Optimal Risk Mitigation and Decision Support Systems to Avoid Cost and Schedule Overruns

Abstract

This study examines five advanced decision support methodologies Lean Six Sigma (LSS), Balanced Score Card (BSC), Integrated Risk Management (IRM), Knowledge Value Added (KVA), and Earned Value Management (EVM) in terms of how each can support the information technology (IT) acquisition process. In addition, the study provides guidance on when each methodology should be applied during the acquisition lifecycle of IT projects. This research includes an in-depth review of each methodology in the context of the acquisition lifecycle. All acquisition projects within the DoD must go through the acquisition lifecycle. While each acquisition project is unique, all must pass a series of common hurdles to succeed. Understanding how and when the methodologies can be applied to the acquisition of IT technologies is fundamental to the success of any IT acquisition. The study concludes with a set of recommendations for the use of each methodology in the acquisition lifecycle of IT projects.