WaterCo's new customer information and billing system (CIBS), its largest information technology (IT) project ever, was over-budget and very late, with no end in sight. In the (A) case, the board of directors must decide what action to take with regards to management's actions, and regarding the project contractor. The (B) case, 9B16E004, outlines what happened afterwards. The cases span a 10-year period from inception to litigation. The case is useful as a tool to explore governance issues at the board and senior management levels as they pertain to enterprise risk management and IT risk.