The Los Angeles Harbor Commission last week unanimously adopted a five-year strategic plan for the Port of Los Angeles for 2012-17. The plan focuses on three key result areas, or KRAs – competitive operations, strong relationships and financial strength. It maps out the port’s priorities, objectives and various initiatives for developing infrastructure, enhancing overall competitiveness, growing market share, optimizing land use, advancing maritime technologies and sustainability efforts, and maintaining the port’s top ranking as the nation’s trade gateway to the Pacific Rim.
“Changing economic tides will require new and innovative approaches and a forward-thinking game plan,” said Geraldine Knatz, port executive director. “This newly adopted strategic roadmap provides a clear path to assure the port’s future success in the global marketplace.”
As the port faces increasing competitive challenges in the coming years, the plan’s “competitive operations” component includes initiatives focused on developing and maintaining a world-class infrastructure; retaining and growing market share; advancing technology and sustainability, as well as optimizing land use.
Similarly, as part of its focus on building “strong relationships,” the port will undertake a number of initiatives to increase stakeholder and community awareness and support, and to create a positive workplace culture.
The plan’s “financial strength” initiatives will center on enhancing cash flow, improving financial reporting and audits, and diversifying and maximizing grant funding.
Metrics to measure the port’s performance and success in implementing the initiatives are included in the plan, which will undergo continuous evolution and performance measurement over the next five years and an annual assessment and re-evaluation to ensure relevance prior to the start of the annual budget process. An organizational performance dashboard will be used to measure progress towards implementing the initiatives.
