Common use of Project Methodology Clause in Contracts

Project Methodology. In the dozens of prior projects where PFM and the project team have been engaged by state and large local governments to do this type of analysis, there are several general themes that run through the work. It should be noted that the exact methodology will depend on the specific needs of the Task Force – they are not specifically outlined in the RFP. However, based on our past experience, we would identify the following as key tasks and activities. The general methodology used to complete the tasks and activities associated with them are explained, as well as the PFM project approach for them.  Analysis of the ‘as is’ state tax structure and system. PFM will first use a detailed information request (primarily consisting of state budget, finance and tax data) as well as review of relevant information related to the state economy and tax structure. PFM subject matter experts will also conduct structured interviews/meetings with key state subject matter experts and stakeholders to gain a full understanding of the current system and its ramifications.  Research and analysis related to key tax data and metrics. The tax structure is, of course, an important component of state government operations (in its role of providing the resources to run it), but it also is an important component of the state’s economy and how it interacts with and impacts citizens and businesses. PFM will use a variety of commonly accessed data sources (such as the US Census Bureau, Bureau of Economic Analysis, Bureau of Labor Statistics, the Federal Reserve Banks and others) to identify key issues, such as how the revenue structure impacts on the overall economy, how it performs in differing parts of the business cycle and how it will likely perform in the future based on current expectations related to economic, social and demographic trends.

Project Methodology. In the dozens of prior projects where PFM and the project team have been engaged by state and large local governments to do this type of analysis, there are several general themes that run through the work. It should be noted that the exact methodology will depend on the specific needs of the Task Force – they are not specifically outlined in the RFP. However, based on our past experience, we would identify the following as key tasks and activities. The general methodology used to complete the tasks and activities associated with them are explained, as well as the PFM project approach for them.  ▪ Analysis of the ‘as is’ state tax structure and system. PFM will first use a detailed information request (primarily consisting of state budget, finance and tax data) as well as review of relevant information related to the state economy and tax structure. PFM subject matter experts will also conduct structured interviews/meetings with key state subject matter experts and stakeholders to gain a full understanding of the current system and its ramifications.  ▪ Research and analysis related to key tax data and metrics. The tax structure is, of course, an important component of state government operations (in its role of providing the resources to run it), but it also is an important component of the state’s economy and how it interacts with and impacts citizens and businesses. PFM will use a variety of commonly accessed data sources (such as the US Census Bureau, Bureau of Economic Analysis, Bureau of Labor Statistics, the Federal Reserve Banks and others) to identify key issues, such as how the revenue structure impacts on the overall economy, how it performs in differing parts of the business cycle and how it will likely perform in the future based on current expectations related to economic, social and demographic trends.