H.R. 4491: SBA IT Modernization Reporting Act

This bill, titled the SBA IT Modernization Reporting Act, aims to improve the information technology (IT) systems of the Small Business Administration (SBA). The main provisions of the bill can be summarized as follows:

1. Implementation of IT Recommendations

The bill requires the Administrator of the SBA, through its Chief Information Officer, to take necessary actions to implement recommendations from a report by the Comptroller General. This report emphasizes that the SBA needs to address risks associated with its newly deployed IT systems.

2. Development of an Implementation Plan

Within 180 days of the bill becoming law, the SBA Administrator must submit an implementation plan to both the House and Senate Small Business Committees. This plan must include:

• Identification of risks for each project and their sources.
• Clear definitions of risk parameters.
• Strategies for managing identified risks.
• Documentation of risks throughout the project lifecycle.
• Evaluation and prioritization of risks along with management plans.
• Connection of risk mitigation measures to the plans.
• Inclusion of cyber risk management information in acquisition and strategic plans.
• Performance and documentation of traceability analyses.
• Involvement of security experts in project contractor selection.
• Development of master schedules based on recognized best practices.
• Use of best practices for cost estimating and management.

3. Additional Plan Requirements

The implementation plan must also specify the office responsible for executing each action and provide timelines for the completion of these actions.

4. Required Briefing

Within 30 days of submitting the implementation plan, the Administrator is required to brief the Small Business Committees in both chambers of Congress regarding the plan.

Relevant Companies

None found