S.Amdt. 1991

SA 1991. Mr. SCHUMER submitted an amendment intended to be proposed
to amendment SA 1463 proposed by Mr. McCain to the bill H.R. 1735, to
authorize appropriations for fiscal year 2016 for military activities
of the Department of Defense, for military construction, and for
defense activities of the Department of Energy, to prescribe military
personnel strengths for such fiscal year, and for other purposes; which
was ordered to lie on the table; as follows:

At the end of subtitle A of title VIII, add the following:

SEC. 811. REPORT ON VALUE-BASED ACQUISITION APPROACHES.

(a) Report.--Not later than 180 days after the date of the
enactment of this Act, the Under Secretary of Defense for
Acquisitions, Technology, and Logistics and each of the
Service Acquisition Executives shall independently submit to
the congressional defense committees reports that propose
methodologies for quantitatively measuring and optimizing the
targeted and returned value of the acquisition portfolio of
each component of the Department of Defense, and the benefits
of such assessments in supporting improved acquisition
outcomes.
(b) Elements.--The report required under subsection (a)
shall include the following elements:
(1) An analysis of the applicability of current industry
and government best practices in value-centric management.
(2) An analysis of the implications of acquisition-related
statutory and policy requirements on the implementation of a
value-centric approach to portfolio management.
(3) A description of the impact of processes outside the
acquisition system on the value of a delivered capability.
(4) One or more quantitative approaches that could be used
to measure and compare the value of disparate programs within
the component's acquisition portfolio.
(c) Value Defined.--In this section, the term ``Value''
means a quantifiable measure of benefit, which is composed of
quantitative assessments of utility, life cycle cost, and
development time for a given capability or set of
capabilities.
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