Software technology changes the way companies conduct business. It has an important role for bankingrnand finance as it alters systems and processes for improved service delivery and customer satisfaction.rnIn cognizant of this fact, many companies in Ethiopia (including banks) currently undertaking softwarernprojects. The objective of this study is to assess software project management practices in the case ofrnCommercial Bank of Ethiopia. Project management frameworks, guidelines/tools and knowledge areasrnwere used to assess the current practices of Commercial Bank of Ethiopia and to ensure its efficiencyrnand uniformity in delivering software products. A total of 64 project managers and project teamrnmembers in four different software projects were selected as respondents for the study with censusrnsurvey. In order to gather the primary data, self-administered questionnaire was employed and IBMrnSPSS Statistics 22 was used for descriptive statistics with quantitative analysis to answer the researchrnquestions and objectives. The findings of the study indicate that various types of project managementrnframeworks have been chosen by the respondents for software projects. Regarding projectrnguidelines/tools, the combination of various guidelines/tools were used. With currently usedrnframeworks and guidelines, 76.2% of respondents indicated that software projects in the bank werernbehind the schedule, 42.9% of respondents beyond the cost plan, 19.0% rejected quality and 7.1%rntotally failed & closed. As a result, this study recommended to use compatible software projectrnmanagement frameworks/tools that will effectively manage software projects, especially to iterativelyrnrecheck the fulfillment of project needs.