Enterprise IT Investment Management
Capital Planning and Investment Control (CPIC) is the primary process for making investment decisions, assessing investment process effectiveness, and refining investment related policies and procedures. CPIC is mandated by the Clinger-Cohen Act, which requires agencies to use a disciplined process to acquire, use, maintain and dispose of information technology (IT). CPIC accomplishes these requirements through three phases: Select Phase, Control Phase, and Evaluate Phase. In the IT Investment Selection Phase, the costs and benefits of all available projects are assessed and the optimal portfolio of projects is selected. During the IT Investment Control Phase, the portfolio is monitored and corrective action is applied where needed. In the IT Investment Evaluation Phase, implemented projects are reviewed to assure that they are producing the benefits expected and adjustments are made where appropriate. All phases may be underway simultaneously as they are applied to projects at different stages of their life cycle.