It is assumed that there are certain generally accepted project management practices whichrnenhance the effectiveness of managing projects which are expected to be distinctivernirrespective of the type of organization or project. Hence, the main purpose of this study isrnto assess IT Project Management Practices in Commercial Bank of Ethiopia using the tenrnproject management knowledge areas defined by PMBOK. Primary data collection wasrndone by semi structured interview and close ended questionnaire from employees involvedrnin project work selected in census survey and as to secondary data CBEâ€™s policies andrnprocedures were reviewed. Accordingly, descriptive research design and quantitativernapproach were employed in this study. Number, percentages and mean were used to analysernthe data obtained. The findings of the study showed that, in the challenges of the projectsrnare both internal and external. Of the internal challenges, the projects time, cost and qualityrngap ranks the first; and from the external challenges of the project environment took thernfirst place. On the other hand the study show that factors defined from PMBOK are practicernby most of the e-PMO employees/respondents except that in time and human resourcernmanagement which in turn displays there is a gap in practicing Project management.rnNevertheless, with the dynamic environment and the IT project nature, CBE still need tornimplement the ten project management knowledge areas defined by PMBOK as a guideline