Tech companies must work more like construction companies if they want to stop leaking money, after research from Oxford University showed that projects managed by IT businesses are three times more likely to go over budget than ones in the building trade.
By studying 1500 large infrastructure and IT projects in a range of sectors, the University found the average budget overrun was 27 per cent, with one in six projects costing 200 per cent more than planned. However, the IT sector was found to be more wasteful, suggesting the technology sector needs to re-evaluate how projects are planned and implemented, adopting a more thorough and methodical style akin to large scale constructions.
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