Time boxing is a project management technique commonly used in software development projects. It is primarily meant for Rapid Application Development (RAD) environments with key focus being the time constraint.
Basically a project follows the Agile software development methodology, where in, the full scope is split into multiple smaller components, each component having its own timelines, budget and milestones. The aim is to achieve the prime objectives by continuously prioritizing and flexing requirements. The project is progressively elaborated as completing individual chunks gives better visibility and decision-making ability.
Though the scope is pre-determined, it is possible that the outcome could differ because of the adaptive approach. The ultimate outcome is the desired result that the users require.
The traditional project management approach involves three prime constraints - Time, Cost and scope (Quality may also be included optionally). This is termed the triple constraint factor of Project management. The scope is pre-determined and fixed at the start of the project. Time and cost are managed to ensure that the required scope is achieved. In case of inevitable circumstances deadlines may slip or project may be crashed or fast tracked to achieve the scope. With time box management, the deadline is what is fixed and the scope is modifiable as activities are accomplished.
The traditional approach would require a Project Manager to ensure that thorough analysis and planning is done to identify all deliverables and plan all activities and schedules to the bone. TimeBox management involves performing a reasonable level of planning and getting on with the actual work, a bit at a time. Things become clearer as each milestone is achieved and analyzed.
I believe most RAD software development have knowingly or unknowingly been using time box technique to keep user satisfied. So if the saying "Scope cannot be frozen" is applicable to your site, TimeBox management is the right tool.
There are TimeBox project management tools available but I haven't used any.
When performing IT Audit at a site, it important that the auditor understand what Project management methodology is being followed. TimeBox approach might give the impression that there is lot of scope creep, but then that would possibly be the reason why this approach is being taken.