The 2012 Department of Defense Investment Review Board and Investment Management Process for Defense Business Systems report responds to section 2222 of Title 10, United States Code (U.S.C.), Defense Business Systems (DBS): architecture, accountability, and modernization, as revised by section 901 of the Fiscal Year (FY) 2012 National Defense Authorization Act (NDAA). Section 2222 directs the Secretary of Defense to require the Deputy Chief Management Officer (DCMO) to establish a single Investment Review Board (IRB) and Investment Management Process consistent with section 11312 of Title 40, U.S.C., to review and certify the planning, design, acquisition, development, deployment, operation, maintenance, modernization, and project cost benefits of covered defense business systems programs. Subsection 2222(a) conditions the obligation of funds for "Covered Defense Business Systems" (DBS) on IRB certification and Defense Business Systems Management Committee (DBSMC) using investment management processes the Department is in the process of establishing. This report presents the Department's intent to implement the expanded investment review process and related actions by October 2012.