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IT projects lose money

Software services
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Breaking news from ihotdesk, the home of IT outsourcing in London:

Millions of pounds are being wasted every year by bad planning of IT projects.

Category SME IT
11 March 2008
Millions of pounds are being wasted every year by bad planning of IT projects.

According to research by PM3 Consulting, one in three IT projects carried out by in-house and outsourced IT project managers are doomed to failure by bad planning and unrealistic expectations.

"As a result projects run over time, over budget, deliver poor quality products and often fail to realise any tangible business benefits at all," said chief executive Steve Pragnell.

"It is shocking that millions of pounds are wasted due to lack of foresight and inefficiency. Industry needs to wake up to the value of hiring project management professionals. Ultimately it could be the difference between making or wasting millions."

The research looked at 500 project managers working in the digital, media and telecommunications fields, and it was clear that the way to get the best out of IT outsourcing is to plan thoroughly in advance what is expected of any new IT project.

It found that 56 per cent of projects are started without clear success criteria being defined, Contractor UK reports.

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