Best practices in information technology: understanding keys to establishing an effective and successful coporate wide stragegy for managing information technology projects

Abstract: In the recent past we have witnessed one of the most devastating economic set backs in the United States of America. This of course is attributed to what many professionals and journalists have termed the Dot Com Bust. The string of events that unfolded at the turn of this century, resulting in the economic downturn has kept everyone wondering and in awe as to what went wrong (coincidentally, which can be abbreviated WWW). Propelled by these issues this research paper is a venture toward understanding why these issues have occurred and what can be done better in order to eliminate some of these problems haunting the information technology operations within organizations. It is important that organizations recognize and learn to manage their information technology initiatives and investments carefully, thereby trying to erase the currently painted picture or portrayal of information technology departments and organizations as being cost centers. As a starting point this paper forms a foundation based on the evolution of information technology and its paradigms and identifies the need for best practices in information technology. Next, a set of best practices is established. Taking this established set of best practices as the base these are further researched by hunting down expert opinion of other researchers in order to understand its validity and applicability. By undertaking and completing a comprehensive literature review of books, journals, and articles this paper addresses a corporate wide strategy that can be effectively used in formulating a better understanding for effectively managing an organization\u27s information technology operations and processes. In essence, the scope of the paper is to closely examine the age-old question, in the present day context, why hasn\u27t information technology delivered on its promises? Also, focusing on a few methodologies that are applied by leading organizations within the industry for managing their information technology operations and processes most certainly assist in this endeavo