Little is known about IT projects and their success rate in delivering business value, yet in a competitive and depressed climate executives need to know about potential returns on investment. To find answers, researchers have embarked on a four-year quest to determine the drivers of business value in IT-enabled business projects.
In the first investigation, the researchers surveyed project managers involved in 25 IT-enabled business projects with an average budget of $1.1 million in a west coast city in North America. They focused on knowledge management practices.
A team whose members value each others' expertise and knowledge, and who are willing to share and combine their knowledge, is what creates an environment in which difficult projects can deliver value.
The governance team should:
select IT and business team members who are willing to listen and learn from each other
develop and nurture a strong learning orientation within the project team
create opportunities for formal and informal knowledge sharing
When selecting your team, do you consider the team members' willingness to learn and share knowledge?
How do you foster a strong learning and sharing environment in your project ?