On a recent trip to England, I had brunch with Alex Budzier, a researcher at Oxford University, whose work with professor Bent Flyvbjerg has shown that IT-based strategies have unusual patterns of failure and success. Alex was a senior associate at McKinsey before joining academia.
Alex shared statistics over scrambled eggs. “We found a strange pattern with IT projects. They have distinctly different patterns of failure – it’s a fat tail, not a normal distribution. More of the really big projects fail, more often. They often cost 2-4 times what is expected. And what’s more, nearly... MORE