| 3 |
Apr 29, 2024 |
CV: SV: OMV: 5.16% OVERALL: -7.42% (Green)
Calls answered within 5 minutes metric did not meet target (70% vs 80% target.) Adding additional agents to support Contact Center. Efforts underway to cross train vendor to handle additional queues. Volume of incoming case work is compromising customer service performance. Incoming redemption cases exceed levels above capacity. A plan is in place to move resources to focus on complex cases to reduce the complex inventory bucket.
(04/29/2024). |
| 3 |
Mar 29, 2024 |
CV: SV: OMV: 3.38% OVERALL: -8.31% (Green)
The percentage of calls answered within five minutes was the only metric not to reach a result within a tolerable range (67% vs 80% target.) The call volumes were elevated this month due to purchase limit resets and the start of tax season. As previously reported - the volume of incoming case work continues to compromise customer servicing performance. Incoming redemption cases continue to exceed levels above the staff’s capacity.
(03/29/2024). |
| 3 |
Feb 28, 2024 |
CV: SV: OMV: 3.95% OVERALL: -8.03% (Green)
The percentage of calls answered within five minutes was the only metric not to reach a result within a tolerable range. The call volumes were elevated this month due to purchase limit resets and the start of tax season. As previously reported - the volume of incoming case work continues to compromise customer servicing performance. Incoming redemption cases continue to exceed levels above the staff’s capacity.
(02/28/2024). |
| 3 |
Jan 31, 2024 |
CV: SV: OMV: 8.83% OVERALL: -5.58% (Green)
The investment met or was within tolerable variance of the performance goals for its key metrics. The volume of incoming case work continues to compromise customer servicing performance. Incoming redemption cases continue to exceed levels above the staff’s capacity. During the next several months, a plan has been put into place to move resources to focus on complex cases to reduce the complex inventory bucket.
(01/31/2024). |
| 3 |
Dec 04, 2023 |
CV: SV: OMV: 8.83% OVERALL: -5.58% (Green)
Improvement from Oct as investment was rebaselined. Volume of incoming case work continues to compromise customer servicing performance. Interest rates for Series I savings bond have dropped, cooling workload related to new security sales; incoming redemption cases continue to exceed levels above staff capacity. Decreasing participation rates of private financial institutions to process savings bond redemptions increases caseload.
(12/04/2023). |
| 3 |
Oct 30, 2023 |
CV: -65.24% SV: 1.58% OMV: 9.50% OVERALL: -18.54% (Yellow)
The TRIM project schedule has been changed to accommodate evolving business requirement. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated.
(10/30/2023). |
| 3 |
Sep 28, 2023 |
CV: -65.24% SV: 1.58% OMV: 8.83% OVERALL: -18.71% (Yellow)
The TRIM project schedule has been changed to accommodate evolving business requirements. The new proposed baseline has not been approved by the Bureau’s Governance boards, thus the project’s baseline cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. Further updates cannot be provided until the baseline in SPIKE has been updated. 2 of 5 metrics are red.
(09/28/2023). |
| 3 |
Aug 29, 2023 |
CV: -65.24% SV: 1.58% OMV: 8.83% OVERALL: -18.54% (Yellow)
The TRIM project schedule (reason for the SV) has been changed to accommodate evolving business requirements. The new proposed baseline has not been approved by the Bureau’s Governance boards, thus the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. Further updates cannot be provided until the baseline in SPIKE has been updated.
(08/29/2023). |
| 3 |
Jul 25, 2023 |
CV: -65.24% SV: 1.58% OMV: 9.50% OVERALL: -18.54% (Yellow)
Volume of in-coming case work continues to compromise customer servicing performance. Interest rates for Series I savings bonds has dropped, cooling workload related to new security sales; incoming redemption cases continue to exceed levels above the staff’s capacity.
Retail received Governance approval to hire additional CS staff to handle increased workload. Efforts initiated to hire and onboard new staff members.
(07/25/2023). |
| 3 |
Jun 30, 2023 |
CV: -65.24% SV: 1.58% OMV: 9.50% OVERALL: -18.54% (Yellow)
BCIO Rating lowered to 1 due to lack of visibility into long-term business strategy and reqmts for moving legacy systems off Mainframe to include decommissioning of Treasury Direct. High risk to the TRIM/MyTreasury project due to ongoing challenges related to delivery of core functionality, coding, defects, testing, and environments. IVV underway to assess opportunities to improve processes and controls.
(06/30/2023). |
| 3 |
May 30, 2023 |
CV: -65.24% SV: 1.58% OMV: 10.33% OVERALL: -18.33% (Yellow)
Variances: The TRIM project schedule has been changed to accommodate evolving business reqmts. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated.
(05/30/2023). |
| 3 |
Apr 26, 2023 |
CV: -65.24% SV: 1.58% OMV: 10.33% OVERALL: -18.33% (Yellow)
Variances: The TRIM project schedule has been changed to accommodate evolving business reqmts. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated.
(04/26/2023). |
| 4 |
Mar 28, 2023 |
CV: -76.60% SV: -22.89% OMV: 11.17% OVERALL: -23.96% (Yellow)
The TRIM project schedule has been changed to accommodate evolving business requirement. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated.
(03/28/2023). |
| 4 |
Feb 28, 2023 |
CV: -76.15% SV: -27.11% OMV: 10.50% OVERALL: -25.07% (Yellow)
the TRIM project schedule has been changed to accommodate evolving business requirement. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated.
(02/28/2023). |
| 4 |
Jan 25, 2023 |
CV: -76.15% SV: -27.11% OMV: 11.00% OVERALL: -24.94% (Yellow)
The development velocity of the TRIM project Rel 1 Marketables Security functionality is significantly less than projected, based on Jan 2019 projections. This is due in large part to staffing challenges resulting from the "Great Resignation" national work environment. Additional budget requirements are being discussed in July thru Sept. New velocity baseline will be established following Sept ESB.
(01/25/2023). |
| 4 |
Dec 22, 2022 |
CV: -76.15% SV: -27.11% OMV: 16.67% OVERALL: -23.52% (Yellow)
Cost variance due to a change in the IT service provider’s cost allocation method (the Federal Reserve). Overhead and indirect costs are now allocated down to the project and activity level, which was not done when the baseline’s costs were estimated. This change has increased the cost for all Bureau customers of the Federal Reserve.
Schedule variance due to the TRIM project, which is being rebaselined.
(12/22/2022). |
| 4 |
Nov 22, 2022 |
CV: -91.98% SV: -27.11% OMV: 24.17% OVERALL: -25.61% (Yellow)
PPMI remains RED. The program is in the process of reconciling variables that have deteriorated the current program status for scope and budget from yellow to red, also impacting previously communicated Get to Green plan activities. Key program stakeholders met in person in June to determine appropriate path forward. All work beyond the current planned check functionality is paused alternatives evaluation.
(11/22/2022). |
| 4 |
Oct 25, 2022 |
CV: -1.12% SV: -51.03% OMV: -18.30% OVERALL: -19.49% (Yellow)
The high SV is being caused by recent changes in the schedule for the TRIM project. An error in the baseline has generated a false-negative variance of -231 days. Once reliable financial forecasts for the project are made available, a BCR to update the baseline and correct errors will be submitted.
The high OMV is being caused by degradation in several of the investment’s customer service metrics.
(10/25/2022). |
| 4 |
Sep 29, 2022 |
CV: -1.12% SV: -47.39% OMV: -17.80% OVERALL: -18.45% (Yellow)
SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022.
In addition, there was an entry error resulting in a SV that will be addressed with a BCR.
High OMV caused by degradation in investment’s customer service metrics. Please see Bureau comment for more detail.
(09/29/2022). |
| 4 |
Aug 23, 2022 |
CV: -1.12% SV: -43.62% OMV: -16.68% OVERALL: -17.23% (Yellow)
Unchanged from July: SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022.
In addition, there was an entry error resulting in a SV that will be addressed with a BCR.
High OMV caused by degradation in investment’s customer service metrics. Please see Bureau comment for more detail.
(08/23/2022). |
| 4 |
Jul 25, 2022 |
CV: -1.12% SV: -39.85% OMV: -15.64% OVERALL: -16.03% (Yellow)
SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022.
In addition, there was an entry error resulting in a SV that will be addressed with a BCR.
High OMV caused by degradation in investment’s customer service metrics. Please see Bureau comment for more detail.
(07/25/2022). |
| 4 |
Jun 22, 2022 |
CV: -1.12% SV: -36.21% OMV: -12.39% OVERALL: -14.31% (Yellow)
SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022. The “MUD Solution Project also has a significant SV.
High OMV caused by degradation in investment’s customer service metrics. Retail customer service has encountered a significant increase in workload triggered by high interest rates for Series I savings bonds.
(06/22/2022). |
| 4 |
May 31, 2022 |
CV: -1.12% SV: -32.44% OMV: -9.86% OVERALL: -12.73% (Yellow)
SV is caused by recent changes in the schedule for the TRIM and MUD projects. The tentatively approved mitigation has shifted milestone completion dates from early May to mid-Oct 2022.
High OMV is caused by degradation in the investment’s customer service metrics. Retail customer service has encountered a significant increase in workload triggered by high interest rates for the Series I savings bonds.
(05/25/2022). |
| 4 |
Apr 22, 2022 |
CV: -1.12% SV: -8.63% OMV: -4.54% OVERALL: -5.45% (Green)
Two metrics performing poorly: % Cases Processed within SLO yellow; Cases that Can Still Meet SLO is red. Both affected by workload increase triggered by high interest rate for Series I savings bond. This situation is further compounded by the usual spike in customer calls during tax season.
TRIM project activity, Rel 1 Deployment, has not begun. This activity should have been deleted when the BY23 BCR was created.
(04/21/2022). |
