When reviewing an organization's strategic IT plan, what key component should an IS auditor expect to find?

In the context of an organization's strategic IT plan, an assessment of the application portfolio in relation to business objectives is essential. This component ensures that the applications used within the organization are aligned with its strategic goals and are effectively supporting business processes. By assessing the application portfolio, the organization can identify which applications contribute to achieving business objectives, which may need enhancements or replacements, and which may no longer be relevant. This alignment is critical for optimizing resources, maximizing efficiency, and ensuring that the IT strategy is directly supporting the organization's mission and vision.

Understanding business objectives allows the organization to prioritize its IT investments and ensure that any changes in technology will drive the intended business outcomes. This assessment forms a foundational part of strategic planning, guiding resource allocation and project selection that will best serve the organization’s goals.

In contrast, the other choices focus on specific operational aspects, such as cost reduction or vendor management, which, while important for day-to-day operations, do not encapsulate the broader strategic integration required of an IT plan.