IT projects over spend costs firms €375m

OVER-BUDGET Information Technology (IT) projects are costing large Irish and British businesses more than €375 million a year.

Research from CA, conducted by independent company Loudhouse, of 100 chief information officers (CIOs) and IT directors, reveals that poor visibility of IT project status and a lack of management control over projects are costing Irish and British enterprises €375m a year.

A third of all projects implemented each year end up over budget, with the typical over-spend between 10% and 20% of the original budget, the study found.