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Entities that have a large-scope IT projects, or write software, or modify commercial applications need to
employ the full PM body of knowledge and principles to mitigate risks associated with changes in IT.

Project management best practices have a particularly positive impact on change management. The
primary objectives of the Project Management Body of Knowledge (PMBOK) is directed at ensuring
projects are on time, within budget, fully functional, at a high level of quality, and with proper
consideration of relevant risks. Empirical evidence suggests that although about 60–75% of IT projects
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fail on one or more of these factors, those that adhere to Project Management Institute (PMI) PMBOK
principles have far fewer failures and generally succeed on all five aspects.

Project management fits within IT governance. The Software Engineering Institute (SEI) provides a model
that demonstrates the role of project management and how it is incorporated into IT governance (see
exhibit 3-1). Certain projects roll up into programs, where projects work together or are integrated in
operations. The PMI defines project in its PMBOK as:

… a temporary endeavor undertaken to create a unique product, service, or result, having a
definitive beginning and end.

Programs and individualized projects roll up into the IT portfolio. Programs and individualized major
projects are managed by a project management office (PMO) in a mature entity. The PMO would be
staffed by those experienced in project management principles, such as those certified as project
management professionals (PMP). The IT portfolio is managed by the BoD or executive management, as
a function of IT governance.

Project management is about leading, planning, organizing, and controlling the project stakeholders,
resources, and environment such that the results are successful; that is, the project is on time, on budget,
fully functional, and right quality.

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Ammar W. Mango, “Project Management; Beyond the Formal Definition.” PM World Today X, no. IV (April 2008):
1–4. (Note: Statistics come from 2006 data.)

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