The Small Business Administration needs to strengthen oversight of its loan management and accounting system modernization, the Government Accountability Office said in a new report released Wednesday.
GAO found that five of the remaining six LMAS-incremental improvement projects are between four and 11 months later than reported to Congress in 2010 and the projects rose in projected cost a total of $5 million.
GAO recommends that SBA apply the appropriate information technology management practices to the IIPs:
- IIP requirements are managed appropriately, including elicitation, documentation, and verification and validation;
- IT risks to the IIPs are adequately managed, including preparing for risk management, identifying and analyzing risks, mitigating risks, and providing executive oversight of risk management activities;
- the human capital necessary for the IIPs is managed appropriately, including the determination of human capital needs, the identification of gaps between current capabilities and needs, the development of a strategy to close those gaps, and the documentation of these activities; and
- the enterprise architecture segments related to the IIPs are managed appropriately, including the development, prioritization, and maintenance of the segments.