FSA Oversight of the Development and Enhancement of Information Technology Products

We found that FSA does not have sufficient oversight of IT projects to provide assurance that its Lifecycle Management Methodology process is appropriately implemented. FSA does not have an accountability mechanism and, as a result, it did not always conduct required technical and management reviews in accordance with the Lifecycle Management Methodology criteria and did not always update project tailoring plans asprojects progressed through their lifecycle. In addition, we found that FSA did not maintain a complete and reliable inventory of IT projects and did not track the progress of all IT projects in its Enterprise Project Portfolio Management system. We concluded that FSA’s lack of an accountability mechanism increased the likelihood of unnecessary risk and costly delays.