OMB has issued guidance on agency responsibilities for real property capital planning under the 2016 Federal Property Management Reform Act, among other things telling agencies to submit a document that outlines their capital planning process—which will be reviewed by the Federal Real Property Council created under that law “to ensure that all agencies have a consistent, repeatable capital planning process that can support their mission.”
“A core principle of this administration’s real property strategy is to ensure that agencies consistently implement sound capital planning practices to optimize their portfolio in order to cost efficiently achieve the agency’s mission. To that end, agencies must identify, plan for, and allocate resources in the annual budget formulation process to eliminate gaps,” says memo M-20-03.
Agency budget officers, CFOs and senior real property officers are responsible for writing that plan, ensuring that better real property information informs the annual budget formulation process, establishing annual performance objectives/metrics and assessing the results.
The guidance covers topics including conducting needs assessments, estimating costs, setting priorities, and more.