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Auditing Project Management Practices

1. Defining the project’s scope and objective.
2. Defining the deliverables of the project.
3. Formally planning the project.
4. Establishing a communications plan for the project.
5. Tracking and reporting on the project’s progress.
6. Following IT change management practices throughout
the project.
7. Performing risk management activities throughout the
project.

Poor project management can disrupt operations, pose compliance risks, blemish an organization’s
reputation, and cost an organization — and its stakeholders — substantial amounts of money.

Three P’s of Project Management

According to the Project Management Body of Knowledge (PMBOK) Guide by the Project
Management Institute (PMI), portfolio management aligns with organizational strategies by
selecting the right programs or projects, prioritizing the work, and providing the needed resources.

Portfolio management provides a high-level view of the organization’s programs and projects by
strategic objective, and assists management in project-related analysis and decision-making.

It is important to note that development operations (DevOps) / development security operations
(DevSecOps) — which is a short-hand way to describe the process of developing software in an agile
method — uses program management, not project management, as each feature/iteration directly
aligns to the objective and program goal. When applying DevOps, program management uses one
function at a time with heavy collaboration between development, operations, and security.
Traditional program management involves managing a suite of projects that support a single
initiative.

Projects are defined by the Project Management Institute (PMI) as a temporary endeavor,
undertaken to create a unique product, service, or result.

Typical organizations run concurrent projects, with each having its own specific goals.

Enterprise Project Management

The diagram is designed to show that projects belong to programs, and programs belong to
portfolios, which are all a part of enterprise project management.

Copyright © 2021 by The Institute of Internal Auditors, Inc. All rights reserved.