IT projects cost firms €370m

As much as €370m a year is wasted in Ireland by private and public sector organisations in failed technology implementations, according to I.T. Alliance.

Dermot Hore the new head of I.T. Alliance's Project Management Practice said that Irish public sector and private organisations are now implementing stricter project management procedures to cut back on costly IT over-runs and failures

He said that the figure on estimated IT waste is based on "conservative international research that between 5pc to 15pc of IT projects fail".

Independent Irish IT research firm, iReach estimates that Irish IT spend for 2008 will be just under €2.5 billion with market growth of just over 4pc in 2008.