Mitigating Critical IT Project Risk

Large IT Projects are known to be difficult, over budget, overdue and not provide expected benefits

There are many challenges facing a business undertaking large, critical information technology projects. Such projects are known to result in less capability than expected and at a significantly greater cost. In hindsight, can be categorized into fundamental root causes:

• Estimates for costs, schedule and derived benefits are overly optimistic while risks are rarely considered or quantified.
• Project Scope may double or triple during the lifecycle of the project.
• Business logic inherent in legacy systems is often not well understood, thus delaying delivery.
• Cultural and skill requirements from radical changes to critical business processes require a longer period of adaptation than expected.
• And most importantly: senior management, although capable, did not have the time or previous experience needed for success.