FDIC Information Technology Strategic Plan: 2017 - 2020: Theme 2

DESCRIPTION

IT portfolio decisions will be based upon cost and contribution that each investment makes to the FDIC mission. The FDIC will continuously evaluate existing investments to identify opportunities to lower costs while maintaining quality. New investments will be scrutinized at the beginning to identify reliable estimates for development and operating costs. Resource-estimating capabilities are critical as the FDIC will need to make trade-offs between current investments and new ones required to achieve the goals described in this strategy.

OBJECTIVE 2.1

Refocus policies and processes for resource planning, acquisition, and project management

The FDIC will develop internal standards and procedures for periodic planning and IT portfolio management. These will provide the opportunity to look across the enterprise, identify opportunities to pool resources, and eliminate redundancies. Governance authorities will apply evaluation criteria and voting processes that aid in selecting IT investments that support the FDIC’s priorities. Lessons learned from these activities will be captured and integrated into successive enterprise planning cycles.

OBJECTIVE 2.2

Streamline governance and oversight to address information technology investments and operations throughout their lifecycle

The Capital Investment Review Committee (CIRC), Chief Information Officers Council (CIOC), and other governance boards will be reviewed and updated, as appropriate, to provide a coordinated decision-making process. Governance will address both capital investment and technical conformance. Governance will be streamlined and focused on enabling development of IT capabilities and modernizing the FDIC’s IT portfolio. The enterprise PMO will provide guidance, standards, and evaluation.

OBJECTIVE 2.3

Create transparency of IT costs and performance to improve portfolio management

The FDIC will have the capability to identify and manage its IT portfolio. Investments will be organized by the FDIC’s Capability Model. The FDIC will follow standard cost accounting methods to allow comparison across the enterprise. Project managers will know the time and expenses and have resources to benchmark their performance against industry standards.

OBJECTIVE 2.4

Enhance vendor management to ensure delivery of value to the FDIC and its external stakeholders

Processes for IT development, operations, and maintenance will be documented, standardized and improved. The FDIC will have the ability to define demand capacity and communicate when work requests can be addressed. The FDIC will have the ability to evaluate contracting strategies and make changes to ensure contracts deliver best value.

OUTCOME

IT investments are driven by a portfolio view of IT work built on business needs and effective communications with sound financial and program management

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