Overview

According to new research by the Said Business School, major IT projects are twenty times more likely to fail than other projects, especially when affected by unpredictable “black swan” events. This research not only highlights the challenges of major IT projects, but also flags up the need to be prepared. This is important for companies when negotiating the project contract, so that it provides a robust legal framework for managing both the project and the relationship.

This briefing outlines how a well-crafted contract can contain mechanisms (such as agreed liquidated damages, step-in mechanisms and termination procedures) to provide practical solutions for possible contingencies.

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