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Agency Chief Operating Officers (COO), on an annual basis, are required to lead an agency-wide IT portfolio review within their respective organization (PortfolioStat). A PortfolioStat session is a face-to-face, evidence-based review (e.g., including data on commodity IT investments, potential duplications, investments that do not appear to be well aligned to agency missions or business functions, etc.) of an agency's IT portfolio.
PortfolioStat will be a new tool that agencies use to assess the current maturity of their IT portfolio management process, make decisions on eliminating duplication, augment current CIO-led capital planning and investment control processes, and move to shared solutions in order to maximize the return on IT investments across the portfolio. While TechStat examines IT performance at the specific project or investment-level, PortfolioStat examines the portfolio as a whole and draws on the agency's enterprise architecture to help identify and eliminate areas of duplication and waste.