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Adopting the public sector's performance-based budgeting for the private sector using the Corporate Performance Management (CPM) framework. In performance-based budgeting, first the goals and objectives of the organization or department are identified, then measurement tools are developed and the last step is reporting. [6] [7] [8]
Performance-Based Budgeting: Linking budget allocations to performance outcomes is an evolving practice. It involves setting specific targets and metrics for government programs and allocating funds based on the achievement of these targets.
Performance budget is a budget that is based on achieving specific outcomes or objectives, rather than simply allocating resources. It emphasizes measuring and evaluating the effectiveness of government programs and services, and allocating resources to achieve the greatest impact.
NPR introduced the use of performance measurements and customer satisfaction surveys, and encouraged the use of technology including the Internet. NPR is recognized as a success and had a lasting impact according to government officials who worked on or were influenced by it under the Clinton and George W. Bush administrations. [2] [3]
The Government Performance and Results Act of 1993 (GPRA) (Pub. L. 103–62) is a United States law enacted in 1993, [1] one of a series of laws designed to improve government performance management. The GPRA requires agencies to engage in performance management tasks such as setting goals, measuring results, and reporting their progress.
A Certified Government Financial Manager (CGFM) is a professional certification issued by the Association of Government Accountants (AGA) in the United States.It was created in 1994 to provide a professional standard of financial expertise and ethics in government and a standard by which government financial management professionals are measured.
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