The fed. govt. spends billions of dollars on info. tech. (IT) projects each year. Consequently, it is important that projects be managed effectively to ensure that public resources are wisely invested. To this end, the OMB identifies major projects and requires agencies to identify high-risk projects that are performing poorly. At times, changes to this info. -- called a re-baselining -- are made to reflect changed development circumstances. These changes can be done for valid reasons, but can also be used to mask cost overruns and schedule delays. This report: (1) provides an update on these projects; (2) identifies OMB¿s efforts to improve the identification and oversight of these projects; and (3) summarizes the results of an IT project re-baselining report.

The fed. gov¿t. will spend $71 billion for info. technol. (IT) projects for FY 2009. These projects must be planned and managed effectively. This includes ensuring that they receive selection and oversight reviews. Selection involves identifying and analyzing projects' risks and returns and selecting those that will best support the agency's needs; oversight includes reviewing the progress of projects against expectations and taking corrective action when these expectations are not being met. This report determines whether: (1) fed. agencies have guidance on the role of their department-level investment review boards in selecting and overseeing IT projects; and (2) these boards are performing reviews of poorly planned and poorly performing projects. Illus.

The headline-grabbing financial scandals of recent years have led to a great urgency regarding organizational governance and security. Information technology is the engine that runs modern organizations, and as such, it must be well-managed and controlled. Organizations and individuals are dependent on network environment technologies, increasing the importance of security and privacy. The field has answered this sense of urgency with advances that have improved the ability to both control the technology and audit the information that is the lifeblood of modern business. Reflects the Latest Technological Advances Updated and revised, this third edition of Information Technology Control and Audit continues to present a comprehensive overview for IT professionals and auditors. Aligned to the CobiT control objectives, it provides a fundamental understanding of IT governance, controls, auditing applications, systems development, and operations. Demonstrating why controls and audits are critical, and defining advances in technology designed to support them, this volume meets the increasing need for audit and control professionals to understand information technology and the controls required to manage this key resource. A Powerful Primer for the CISA and CGEIT Exams Supporting and analyzing the CobiT model, this text prepares IT professionals for the CISA and CGEIT exams. With summary sections, exercises, review questions, and references for further readings, it promotes the mastery of the concepts and practical implementation of controls needed to effectively manage information technology resources. New in the Third Edition: Reorganized and expanded to align to the CobiT objectives Supports study for both the CISA and CGEIT exams Includes chapters on IT financial and sourcing management Adds a section on Delivery and Support control objectives Includes additional content on audit and control of outsourcing, change management, risk management, and compliance