Optimize the federal real property portfolio to achieve agencies' missions, demonstrate stewardship, and manage costs through the implementation of capital and strategic planning, deployment of standard business processes and data standards, legislative reform, and the development and use of detailed budget and expenditure data.
A lack of standard data definitions and business processes and limited financial transparency makes it difficult for government-wide initiatives to optimize the real property portfolio, to acquire necessary capital, and make timely decisions. Current processes do not support the implementation of a consistent strategy across the whole of government. Other challenges - the structure of the federal budget process, legislative requirements, and others - magnify the challenge.
Establish capital planning, embedded in a national strategy, to guide real property investment and implement government-wide strategies to optimize the portfolio. By fully identifying opportunities to reinvest in the portfolio through a standard government-wide planning process, the portfolio can be optimized to cost-efficiently support agencies' mission attainment. Leveraging the Federal Assets Sale and Transfer Act and Federal Property Management Reform Act can assist this effort. Optimizing the federal real estate portfolio will allow for better delivery of federal program results.