Business and IT services group Parity stressed that businesses must take stock on whether their IT project planning and risk management skills are up to scratch when considering new technology projects.
This is especially important in markets where there is a well documented shortage of IT skills for hire.
Businesses have traditionally been able to source IT contractors to make up for any skills shortfall on IT development projects.
But today's high demand for IT resources means that organisations are having to pay high market rates to secure key IT skills.
Not having them available when they want them risks projects going over time and not coming in on budget, according to Parity.
Furthermore companies may not be getting the best deal from hiring contractors on traditional short-term contracts.
"Incidents of contractors looking to break short-term contracts or actively looking for their next assignment while working for their current client is not uncommon," said David Plummer, managing director of Parity Resources.
"It has almost become a commodity market where buying into the future can secure better prices.
"Meeting business and project plan requirements should be the driving force behind contract hiring decisions.
"Businesses need to adapt to the changing market and consider offering contracts of six months or even longer to ensure that key skills are available to finish the project."
Better resource planning could also save money by locking in rates in a rising market, while contractors will benefit from the additional security that a longer contract term offers.
It is vital that any decision to extend these terms is backed up by a sound project plan and clearly defined business requirements so that there is a strong business case behind committing budget to longer term contractors.
"It is important that businesses invest time upfront to fully scope out the IT resource required for their IT projects," Plummer added.
"This will not only help to ensure that they hire the right numbers of IT contractors to meet their project needs, but it may save them a lot of money in keeping their project on time and within budget."
Poor resource planning puts IT projects at risk
By Robert Jaques on Nov 14, 2007 7:19AM