PortfolioStat is a tool for agencies to use to assess the current maturity of their [IT portfolio] and make decisions on eliminating duplication across their organizations. (OMB. PortfolioStat.) Launched by OMB in March of 2012, PortfolioStat has yielded over $2.57 billion (OMB M-12-10. Implementing PortfolioStat. 3/30/2012) in savings or cost avoidance.
PortfolioStat consists of a yearly review of agency portfolio management between the Federal CIO 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 IT Assets and Information. (OMB. PortfolioSTAT.)
To support this process, OMB is requiring that each agency take the following actions:
PortfolioStat is a data-driven tool that agencies use to assess the current maturity of their IT portfolio management processes and select PortfolioStat action items to strengthen their IT portfolio. Covered agencies shall hold PortfolioStat sessions on a quarterly basis with OMB, the agency CIO, and other attendees. These sessions were previously annual and required the attendance of the agency deputy secretary (see Implementing PortfolioStat (M-12-10), Fiscal Year 2013 PortfolioStat Guidance: Strengthening Federal IT Portfolio Management (M-13-09), and Fiscal Year 2014 PortfolioStat (M-14- 08). (OMB M-15-14. Management and Oversight of Federal Information Technology. 6/10/2015.)