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The Cost of IT Inefficiency
Business Engine survey finds Global 2000 firms waste $300 million each year on poorly managed IT projects.
A survey of Global 2000 companies has shown that more than $300 million per year is wasted on poorly managed IT projects due to a failure to efficiently run the business of IT. The figure comes from an international Value Assessment survey of IT directors and executives conducted by project portfolio management and collaboration software specialist Business Engine. The in-depth survey was conducted over a three-year period with over 30 blue chip organizations across the financial, healthcare, retail and telecommunications sectors.
The primary objective of the survey was to identify which business areas within organizations deliver the most value, thereby guiding executives to focus and prioritize IT budget on those areas that produce the greatest and most immediate ROI. Underutilization of offshore outsourcing was found to be the single biggest cost saving opportunity missed by businesses.
"The survey reveals major missed opportunities for increasing the value of IT within an organization," says Doug Dickey, CEO and president of Business Engine. "Three key areas account for the bulk of the opportunities: poor visibility and control of IT projects, a failure to align a company's IT with its business strategy, and the under-utilization of existing resources — …
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