Integrated Financial Resource Management (iFRM)
Helping clients be responsible stewards and maintain fiscal accountability, our staff provide comprehensive solutions to improve financial management and long-term assistance with budgeting, accounting, enhancing internal controls over processes and systems, modernizing technology, streamlining financial management operations, and program performance and internal controls.
Through our Integrated Financial Resource Management (iFRM) capability and service offering, Booz Allen Hamilton offers clients comprehensive, enterprise-level financial management solutions that leverage people, process and technology. Supporting the funding and procurement phases of the money management life cycle, Booz Allen focuses on not only fiscal planning, programming, budgeting, and execution but also the systems that support these functions.
One of our core iFRM capabilities is Integrated Program (Financial) Assessment. Today, professionals in the federal, state, and local government sectors need more help than ever in improving mission performance while keeping costs down.
Booz Allen has more than 450 experienced professionals that specialize in financial management, cost analysis and cost estimating, acquisition support, and special analytical approaches. Our financial management professionals understand all aspects of budget formulation, execution and control, federal accounting operations, and financial reporting. Booz Allen aligns accounting and financial management expertise with other firm capabilities, (e.g., cost estimating, business process reengineering, and systems development) to deliver a total, integrated solution for our clients.
An example is our Financial Services Support to a key client: Our staff reviewed and revised Standard Operating Procedures related to Abnormal Balance research, provided a recommended disposition of significant GJ transactions, and conducted an analysis of trading partner accounting.
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• Assess governance/industry requirements/needs • Gather/review appropriate documentation • Interview program and project leadership |
• Assess current risk management maturity using capability model of governance, people, process, and tools • Define current baseline of risk management capabilities • Identify gaps between needs and process |
• Develop approach to address needs and any gaps across capabilities • Develop needed documentation • Develop training • Develop tool requirements and make recommendations • Define organizational structure |
• Implement the process and establish business rhythms |
• Through measurements, identify process improvements • Phase in the risk management program efforts as the program or project matures • Regularly monitor and improve the process |
