IT spend is set to skyrocket in 2021 – according to Gartner, $3.9 trillion will be spent on IT projects worldwide this year, up more than 6 percent for 2020.
But IT spend does not automatically translate to favorable business outcomes. For companies rebounding from a year of disruptions, ensuring IT investments actually help achieve goals, increase profits, and move other business levers is critical. However, contrary to popular belief, technology isn’t the driving force of business success and growth – instead, it should be viewed as an accelerated path toward their goals.
In fact, I would argue that IT generally shouldn’t own projects within an organization. Instead, ownership responsibility should fall to line-of-business (LOB) leaders and stakeholders. Ideally, LOB employees should analyze the business need for a new IT solution, determine its objective, and identify the KPIs that will measure success.