On March 30, 2012, the Office of Management and Budget (OMB) launched PortfolioStat, a new tool for agencies to use to assess the current maturity of their IT portfolio management process and make decisions on eliminating duplication across their organizations.
During the first year of the initiative, agencies identified $2.5 billion in savings opportunities through FY 2015. To date, agencies have reported over $2.57 billion in PortfolioStat-related savings, putting the government ahead of its target.
Each year PortfolioStat has consisted of a data-driven review of agency portfolio management between the Federal Chief Information Officer and senior agency officials. In addition to helping agencies achieve financial savings through reform efforts, PortfolioStat analyzes agency progress using a variety of performance metrics designed to measure whether agencies are delivering their IT investments on budget and on schedule, driving innovation to meet customer needs, and adequately protecting Federal data and systems. As part of its ongoing commitment to transparency, OMB recently made IT performance metrics used in PortfolioStat sessions public.
- M-12-10: Implementing PortfolioStat
- M-13-09: Fiscal Year 2013 PortfolioStat Guidance: Strengthening Federal IT Portfolio Management
- M-14-08: Fiscal Year 2014 PortfolioStat
- M-15-14: Management and Oversight of Federal Information Technology