IT Systems Development Project Failures in Banking
You will research and report on IT Systems Development Project Failures in Banking. There is a long documented history of systems projects that result in poorly-designed systems, failed systems, and late systems. The causes are many, including both technical and administrative flaws, errors, and omissions. Just like major construction projects, the project leaders often suffer from “dispositional optimism bias” – meaning they think they can complete projects quicker or sooner than they can, and many projects are completed late, often with cost overruns. Some projects fail due to compatibility or security issues. Some developers conduct flawed requirements analysis and never fully capture the needs of the user groups. Other times, systems fail because the project directors underestimate the technical or financial challenges. Solutions, such as scrum, rapid prototyping, agile development, and other innovations have improved the process in many cases, but failures continue to plague the field.
You will report on this phenomenon in a clear structured original manuscript. You will document the background for your assessment by citing at least six industry reports or white papers and at least six academic manuscripts (articles) in scientific journals and include them in your reference list. Then you will discuss one or two perspectives on this theme in your own words – what are your own personal opinions about the causes or solutions? What interests you about the issue of IT system project failure? What personal experiences have you witnessed? Do you see reflections of this theme in your own career or in the experiences of your peers? Conclude with an overall assessment.