Did you know that IT project delays cost more than just time, money and frustration...they can also hurt business growth and profitability?
Strategic IT projects ultimately need to increase business revenues or profitability. But failed IT projects, and worse, projects that experience delay after delay, can hurt business growth and profitability in three ways:
1) Delayed revenue/profit - expected project benefits get pushed further into the future with each delay or restart...this is especially painful for companies that bake project benefits into financial plans
2) Reduced ROI - project delays and restarts increase costs and reduce ROI for strategic initiatives; they also pull funds from other critical business needs
3) Lost revenue/profits - when one project is delayed, so are all other strategic business initiatives waiting in the wings...as these initiatives get pushed further and further into the future, so does their business value
IT's responsibility...and opportunity
IT organizations that struggle to deliver business solutions on time and within budget have a tremendous responsbility...and opportunity...to turn this around. It is possible to consistently deliver strategic business solutions on time and within budget.
Consistency comes from leveraging project management best practices. These widely used and proven disciplines will not only turn delays and failures into predictable successes, but as IT improves its project performance, their credibility will skyrocket, and so will their value to the business.
When IT consistently leads successful projects...eliminating delays, failures and frustrations...greater business growth and profitability follow!
