Project governance refers to a broad collection of integrated policies, standards, and procedures that provide a framework for planning and executing projects. It establishes decision-making processes, accountability, and risk management controls to ensure that projects align with organizational objectives.
(A) Project portfolio. ❌
Incorrect. A project portfolio refers to a collection of projects managed together to achieve strategic objectives. It does not specifically define the policies, standards, and procedures for project execution.
(B) Project development. ❌
Incorrect. Project development focuses on designing, building, and testing a project, but it does not encompass governance structures like policies, standards, and oversight.
(C) Project governance. ✅
Correct. Project governance includes integrated policies, standards, and procedures that guide project planning, execution, and oversight.
IIA GTAG "Auditing IT Projects" emphasizes project governance as the primary control framework for managing project risks and ensuring alignment with organizational goals.
(D) Project management methodologies. ❌
Incorrect. Project management methodologies (e.g., Agile, Waterfall, PRINCE2) provide structured approaches for executing projects but do not encompass the full governance framework.
IIA GTAG – "Auditing IT Projects"
IIA Standard 2110 – Governance (Project Risk Management)
COSO ERM Framework – Project Oversight and Risk Governance
Analysis of Answer Choices:IIA References:Thus, the correct answer is C (Project governance), as it provides the integrated policies, standards, and procedures needed for effective project oversight.
