[Congressional Record Volume 161, Number 92 (Wednesday, June 10, 2015)]
[Senate]
[Page S4057]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1991. Mr. SCHUMER submitted an amendment intended to be proposed 
to amendment SA 1463 proposed by Mr. McCain to the bill H.R. 1735, to 
authorize appropriations for fiscal year 2016 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:

       At the end of subtitle A of title VIII, add the following:

     SEC. 811. REPORT ON VALUE-BASED ACQUISITION APPROACHES.

       (a) Report.--Not later than 180 days after the date of the 
     enactment of this Act, the Under Secretary of Defense for 
     Acquisitions, Technology, and Logistics and each of the 
     Service Acquisition Executives shall independently submit to 
     the congressional defense committees reports that propose 
     methodologies for quantitatively measuring and optimizing the 
     targeted and returned value of the acquisition portfolio of 
     each component of the Department of Defense, and the benefits 
     of such assessments in supporting improved acquisition 
     outcomes.
       (b) Elements.--The report required under subsection (a) 
     shall include the following elements:
       (1) An analysis of the applicability of current industry 
     and government best practices in value-centric management.
       (2) An analysis of the implications of acquisition-related 
     statutory and policy requirements on the implementation of a 
     value-centric approach to portfolio management.
       (3) A description of the impact of processes outside the 
     acquisition system on the value of a delivered capability.
       (4) One or more quantitative approaches that could be used 
     to measure and compare the value of disparate programs within 
     the component's acquisition portfolio.
       (c) Value Defined.--In this section, the term ``Value'' 
     means a quantifiable measure of benefit, which is composed of 
     quantitative assessments of utility, life cycle cost, and 
     development time for a given capability or set of 
     capabilities.
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