Microsoft Knowledge Base Article 308169 contains the following summary:
This article explains the various methods that are available to remotely manage Microsoft Internet Information Services (IIS) 5.0.
Two options are available to remotely administer IIS. To remotely administer IIS over the Internet or through a proxy server, use the browser-based Internet Services Manager (HTML). To remotely administer IIS over an intranet , you can use either the browser-based Internet Services Manager (HTML) or the IIS snap-in that is hosted in the Microsoft Management Console (MMC).
NOTE : You can also use Microsoft Terminal Services over a network connection to remotely administer IIS.