Sec. 704. Project and program reserves
148 words·~1 min read·
/bill/113/hr/4412/unknown/section-704A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that the judicious use of program and project reserves provides the Administration’s project and program managers with the flexibility needed to manage projects and programs to ensure that the impacts of contingencies can be mitigated. Not later than 180 days after the date of enactment of this Act the Administrator shall transmit to the Committee on Science, Space, and Technology of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a report describing— the Administration’s criteria for establishing the amount of reserves held at the project and program levels; how such criteria relate to the agency’s policy of budgeting at a 70-percent confidence level; and the Administration’s criteria for waiving the policy of budgeting at a 70-percent confidence level and alternative strategies and mechanisms aimed at controlling program and project costs when a waiver is granted.