Capital Project Portfolio Management for Federal Real Property

Abstract

The U.S. Office of Management and Budget, Government Accountability Office, and Federal Facilities Council, among others, find that effectively managing federal real property assets requires increased management attention, establishment of clear goals and objectives, and improved policies, procedures, and levels of accountability. This paper introduces a model to assess public-sector capital project portfolio management (CPPM). Our objective was to create an assessment protocol to measure how effectively and efficiently public-sector capital assets are managed. We built on the tenets of asset management and improving service delivery, specifically focusing on the project, portfolio, and business management domains. In developing this model of measuring federal real property management capabilities, we identified and evaluated a wide range of decision-making process activities in managing these assets. Using the capability maturity model framework, we then developed and validated the system-level CPPM capability model. When applying the model, managers can assess organizational performance in a structured repeatable process. Model results help managers identify strengths and weaknesses in the organization, identify best appropriate practices, and get credit for the good things they have done as they measure their performance in improving service delivery.