-In 2012, OMB established PortfolioStat accountability sessions to engage directly with agency leadership to assess the maturity and effectiveness of current IT management practices and address management opportunities and challenges. As part of the annual PortfolioStat process, agencies must update their IRM Strategic Plans to describe how they are meeting new and existing information life cycle management requirements. Specifically, agencies must describe how they have institutionalized and operationalized the interoperability and openness requirements in this Memorandum into their core processes across all applicable agency programs and stakeholders. The [FY13 OMB PortfolioStat Guidance](http://www.whitehouse.gov/sites/default/files/omb/memoranda/2013/m-13-09.pdf. ) was issued on March 27, 2013.
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