Definition: A management process applied throughout the life of a system that bases all programmatic decisions on the anticipated mission-related and economic benefits derived over the life of the system. It includes the implementation, management, and oversight by the designated Program Manager (PM) of all activities associated with the acquisition, development, production, fielding, sustainment, and disposal of a DoD system across its life cycle.

Citation: DAU : DAU Glossary of Defense Acquisition Acronyms and Terms