FOR many companies, now is the time to review their performance over the past 12 months. Those that succeed in achieving their goals are definitely all fired up to do better next year while the less successful can learn from mistakes made.

As far as IT projects are concerned, companies certainly have to be more committed when it comes to execution.

According to research carried out by Dynamic Markets on behalf of IT services, business solutions and outsourcing organisation Tata Consultancy Services, nearly half of the IT projects in the Asia-Pacific failed last year.

More alarmingly, despite the poor performance, such results do not evoke a sharp reaction from the management, the survey noted. In fact, close to 70 per cent of the respondents said their managers and the board continued to provide the necessary financial support for these projects.

Common problems cited included overrun on time (62 per cent), budget (49 per cent) and higher-than-

expected maintenance costs (47 per cent).

The research surveyed 800 middle and senior IT managers in large companies across eight countries worldwide, including Southeast Asian countries.

As a result of the research, Tata Consultancy is urging businesses to rethink their IT services and outsourcing strategies.

Organisations need to work with partners that can explain the value of their work at the board level and provide key performance indicators to show the benefits of the investments made. In addition, they should work with businesses that can demonstrate a clear ability to execute on time, on budget and according to plan.

Businesses should look at how their partners operate before signing on the dotted line, Tata Consultancy advised. They should consider longevity of the partnership, repeat business and organic growth of the relationship.

Financial credibility and global reach also are important in today’s economy.

Ultimately, what businesses should look for is the ability to provide the right services at the right cost in the right time frame.