Portfolio – A range of investments held by a person, a company, etc. (Oxford Dictionary: American Edition); i.e., A group of resources, assets, product and/or service offerings of an organization or community.
Portfolio Management is the process of tracking, maintaining, expanding, and aligning assets to address and solve the business needs of an enterprise. Portfolio management approaches include a number of components:
- Strategic portfolio planning;
- Coordinated development and resource pooling;
- Established goals and performance measures, indicating the benefits of each asset investment, and how it contributes to the overarching goals (particularly completion/renewal) of the portfolio;
- Investment selection criteria; and
- Processes for reviewing the health of, and return on, asset investments that inform investment decisions, redistribution of resources, management of issues and mitigation of risks to the portfolio.”
At a national level, the portfolio-centric model overcomes single agency stovepipes by applying consistent policy, improved organization, better governance, and public engagement to deliver results. This involves coordination of geospatial assets and investments to most efficiently support national priorities and government missions. The Federal portfolio of geospatial assets is a key component of the NSDI, providing a foundational core of digital spatial information for the Nation and for all users of geographic information.
Portfolio Management is a process that supports and optimizes investments in Federal geospatial assets for effective sharing, collaboration, and use of core geospatial data across Federal agencies and with their partners and stakeholders, in an environment that supports efficient and effective decision making.
The processes helps portfolio managers, the stewards of geospatial resources, manage a resource as an asset throughout its lifecycle to promote interoperability and openness of geospatial information across all levels of government, commerce, and public engagement. The geospatial portfolio consists of multiple assets, including geospatial data, technology, and service/application components.
Outcomes include robust and accessible set of core assets: datasets, services, maps, and applications. The availability of and access to these assets will improve support for individual Federal agency missions as, well as their partners and stakeholders.
Why use Portfolio Management?
- Reduces duplication and cost
- Provides greater accessibility
- Supports shared services across the Federal Government
- Offers an accurate and accountable inventory of Federal Geospatial Portfolio assets
- Improves government accountability and transparency
- Improves data quality through lifecycle evaluations for content quality and fitness for use
- Ensures national data are high quality, dependable, consistent, and available to agencies
- Increases return on existing geospatial investments by promoting the reuse of data, applications, and tools
All levels of government and private entities have a role to play in using geospatial technologies to enhance the efficiency and effectiveness of their mission-driven business functions and services. GeoPlatform.gov provides cross-agency shared infrastructure and services to:
- Support management, discovery, and exploitation of foundational data and services such as remotely sensed imagery, address data, infrastructure, and other geospatial resources of national significance.
- Promote data sharing and interoperability standards to reduce duplicated effort and enhance data sharing.
- Utilize geospatial data and tools to plan, manage, track, and communicate results of policy or event-driven cross-agency initiatives and projects.
- Ensure that infrastructure of geospatial data, systems, and services is accessible and open.
- Streamline governance of geospatial data and programs nationally to reduce duplication and capture increased efficiencies.
For information about the GeoPlatform Portfolio Model, click the link below.More Information