BBC Corporation of Britain lost 100 million pounds due to Ineffective IT Governance.
Ex-BBC Chief apologized for failure of “Digital Media Initiative” costing Britain significant money.
The reasons given for failure include (per Reuters news) –
– Quality and timing of information about the project passed to management was “not everything it should have been”.
– Red flags were raised too slow.
– Board did not have “sufficient grip” on the IT project
– Board did not have adequate mechanisms to ensure that project was “technically sound”
– There was a lack of Governance.
– No single person was responsible for the project (inadequate accountability mechanisms).
The above technology failure shows the importance of IT Governance knowledge for Board of Directors, and for the Senior Management. With the technology becoming more and more pervasive in every aspect of our companies, it is about time, we train our Board and Business Leaders on how to Govern IT effectively, and save our companies from such big IT disasters.
For more details…please see Reuters news item
Lobana Consulting Group can assist you in training your Board and Senior Management on Effective Mechanisms of Information Technology Governance. You can contact us at [email protected]