IT projects must be constantly tested at each stage and have a systematic transition. There has to be a balance between formal procedures and social attitude to minimize risk. Innovatively and positively integrated team with shared values can make a major contribution to the success of the project.
IT projects in any organization support the operation, management, analysis and decision making function within an organization but research has also shown that many IT projects have to be abandoned. Amongst the high profile, IT project failures feature the London Ambulance System (LAS). One factor consistent with all IT projects is the fact that only 30% of the organizations applied risk analysis in their IT investment and project management processes (Bacarrini, Salm &. Love, 2004). Risk analysis was limited to financial calculations. Organizations need to improve their ability to manage IT projects so that projects can be delivered successfully. The failure of LAS contains within its a failure of the development problems and problems in use. It highlights that the nature of information systems failure is multi-faceted.
In the construction industry, the design process and the people differ significantly from the stylized models. To this is added uncertainty, which demands specialization and the need to communicate with experts (Demaid &. Quintas, 2005). The formal process of design and bidding is common to all projects, be it in the IT industry or the construction industry. Risk analysis for any project is equally important. There has to be a balance between formal procedures and social attitude to minimize risk. Terminal 5 (T5) program is one of the great engineering success of the 21st century, which will be completed on time, under budget and with no impact on airport’s day to day business operations (Mottmac, 2006).