I was going through ISACA VAL IT and come across these points. These statments will give the valuve of IT for the business, defintly business need IT governance to avoid these kind of scenarios on their business
• A 2002 Gartner survey found that 20 percent of all expenditures on IT is wasted—a finding that represents, on a global basis, an annual destruction of value totaling about US $600 billion.
• A 2004 IBM survey of Fortune 1000 CIOs found that, on average, CIOs believe that 40 percent of all IT spending brought no return to their organisations.
• A 2006 study conducted by The Standish Group found that only 35 percent of all IT projects succeeded while the remainder (65 percent ) were either challenged or failed.
Headlines around the world corroborate these findings:
• Nike reportedly lost more than US $200 million through difficulties experienced in implementing its supply chain software.
• Failures in IT-enabled logistics systems at MFI and Sainsbury in the UK led to multimillion-pound write-offs, profit warnings and share price erosion.
• Tokyo Gas reported a US $46.6 million special loss due to cancellation of a large customer relationship management (CRM) project.
• In the public sector, the UK Department for Work and Pensions apparently ‘squandered’ more than £2 billion by abandoning three major projects.
• A 2002 Gartner survey found that 20 percent of all expenditures on IT is wasted—a finding that represents, on a global basis, an annual destruction of value totaling about US $600 billion.
• A 2004 IBM survey of Fortune 1000 CIOs found that, on average, CIOs believe that 40 percent of all IT spending brought no return to their organisations.
• A 2006 study conducted by The Standish Group found that only 35 percent of all IT projects succeeded while the remainder (65 percent ) were either challenged or failed.
Headlines around the world corroborate these findings:
• Nike reportedly lost more than US $200 million through difficulties experienced in implementing its supply chain software.
• Failures in IT-enabled logistics systems at MFI and Sainsbury in the UK led to multimillion-pound write-offs, profit warnings and share price erosion.
• Tokyo Gas reported a US $46.6 million special loss due to cancellation of a large customer relationship management (CRM) project.
• In the public sector, the UK Department for Work and Pensions apparently ‘squandered’ more than £2 billion by abandoning three major projects.
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