Information Technology Investment Oversight Enhancement and Waste Prevention Act of 2009

Information Technology (IT) Investment Oversight Enhancement and Waste Prevention Act of 2009 - (Sec. 3) Requires the Director of the Office of Management and Budget (OMB) to ensure the effective operation and quarterly updating of a website that includes: (1) information on the accurate cost, schedule, and performance of all major information technology (IT) investments reported in a manner consistent with policy established by OMB on the use of earned-value management data; (2) a graphical depiction of trend information since the commencement of the investment; (3) a clear delineation of major IT investments that have experienced cost, schedule, or performance variance greater than 10% over their life cycle; (4) the reasons the investment deviated from the benchmark established at project commencement; and (5) the number of times and the dates investments were re-baselined.

(Sec. 4) Requires each Chief Information Officer of an executive department that is primarily responsible for the IT investment project under review to identify and designate as core projects the major IT investments that are most critical.

Requires the project manager for an IT investment project to submit to the Chief Information Officer, after each fiscal quarter or upon determining that a project has significantly or grossly deviated from its baseline, information that includes: (1) a description of the cost, schedule, and performance of such projects; (2) the current cost, schedule, and performance status of all projects previously identified as significantly or grossly deviated from the original baseline; and (3) any corrective actions taken. Requires the Chief Information Officer to: (1) determine if any project has significantly or grossly deviated; and (2) report such determination to the agency head, appropriate congressional committees, the Director, and the Government Accountability Office (GAO).

Requires reports and other information required under this Act to be submitted through the website in a manner consistent with guidance from OMB to satisfy reporting requirements and to reduce paperwork. Makes other specified requirements applicable to the IT investment projects of the Department of Defense (DOD).

Requires the agency head to: (1) develop and implement a remedial action plan; (2) report annually to OMB; and (3) establish a program to improve the IT processes overseen by the Chief Information Officer. Requires the Director to report annually to Congress on the status and implementation of the program.

(Sec. 5) Directs the Secretary of Defense to establish a program to improve the planning and oversight processes for the acquisition of major automated information systems by DOD, which shall include: (1) a documented process for IT acquisition planning, requirements development and management, project management and oversight, earned value management, and risk management; (2) the development of appropriate metrics that can be implemented and monitored on a real-time basis for performance measurement of processes and development status of investments in major automated information system programs, continuous process improvement of the program, and achievement of program and investment outcomes; (3) a process to ensure that key program personnel have an appropriate level of experience, training, and education in the planning, acquisition, execution, management, and oversight of IT systems; (4) a process to ensure that military departments and defense agencies adhere to established processes and requirements relating to the planning, acquisition, execution, management, and oversight of IT programs and developments; and (5) a process under which an appropriate DOD official may intervene or terminate the funding of an IT investment at risk of not achieving major project milestones.

Sets forth annual reporting requirements.

(Sec. 6) Requires the Director to: (1) assist agencies in avoiding significant and gross deviations in the cost, schedule, and performance of IT investment projects; and (2) promulgate policy and guidance for the head of each federal agency that establishes procedures for the creation of a small group of individuals to carry out that purpose, referred to as the IT SWAT Team.

(Sec. 7) Requires: (1) the Director of the Office of Personnel Management (OPM) to develop policy and guidance for agencies to develop a program to recognize excellent performance by federal employees in the acquisition of information systems and IT; and (2) the Director of OMB to establish policies and guidance for agencies to reward employees pursuant to the program by awarding cash bonuses, promotions, and other nonmonetary awards and/or by publicizing acquisition accomplishments by individual employees.