Which of the following is MOST important for an IS auditor to look for in a project feasibility study?
Which of the following is MOST important for an IS auditor to look for in a project feasibility study?
The most important aspect for an IS auditor to look for in a project feasibility study is an assessment of whether the expected benefits can be achieved. It focuses on the practical viability and effectiveness of the project plan, ensuring that the goals and expected outcomes are realistic and attainable. This encompasses technical feasibility, resource availability, and overall project execution, which are crucial for determining the project's success beyond just cost-benefit analysis or fulfilling security controls and requirements.
A. An assessment indicating the benefits will exceed the investment is important, but it is more of a financial justification rather than a comprehensive feasibility check. While it is critical to demonstrate that the benefits exceed the investment (often referred to as a cost-benefit analysis), this alone does not guarantee that the project is feasible. A project can have a favorable cost-benefit ratio but still fail due to practical issues, such as technical challenges, resource limitations, or unrealistic timelines.
A project feasibility study evaluates the potential benefits, costs, and risks associated with a proposed project to determine its viability and worthiness. While it's essential to consider factors such as cost-effectiveness (option A), an assessment of whether the expected benefits can be achieved is paramount.
In a project feasibility study, the most important aspect for an IS auditor to look for is an assessment indicating that the benefits of the project will exceed the investment. This ensures that the project is economically viable and aligns with the organization's goals.