Techniques used to manage Army officers date back to the origins of our Army. This paper examines recent officer management--its evolution, efficacy of the current system, and implications of Transformation and the future on the current system. After a thorough literature review of publications and information pertaining to OPMS, it appears as though the system is generally functioning as designed and implementation is now approaching a steady state. Career Field Designation Boards are being conducted annually, promotion and selection boards are being conducted by career field, some concerns over the Officer Evaluation Report have been addressed, and time in branch qualification positions for majors and associated stability is at an all time high. We have begun building a base of operators and specialists who will serve the Army well over the coming decades. Empirical data from the Army Research Institute suggests that the system is maturing and that officer understanding and acceptance of OPMS is growing. There are four areas, however, that require continued monitoring by personnel officials and possible adjustment by senior leaders and policy makers. These four areas are joint officer management, AC/RC program, the Army's officer education system, and the Officer Evaluation Report. The paper concludes with a recommendation that the Army conduct a review of OPMS III to ascertain its viability for the future and that this review should begin now, in the early stages of Transformation. Any resulting changes to OPMS III would then by synchronous with the Army as it transforms. Areas to be considered in this review, logically named OPMS IV, should include codifying the type of officer required for the Objective Force, a review of the branches and functional areas that comprise the four career fields, the timing of designation, accession and education policies for the future officer, and officer management policies given the imminent change to unit rotation and assignment policies.