There are brainiacs and then there are guys like Roger Sessions, who makes the average brainiac seem, well, average.
Sessions, who is considered one of the foremost experts on software architecture for the enterprise, walked through in a recent posting on his blog an incredible step-by-step calculation adding up the amount of money lost worldwide from IT failure.
His figure: 6.2 Trillion dollars!
That's more than six times the amount spent on both the war in Iraq and Afghanistan combined.
That's twelve times the current U.S. trade deficit.
Interesting! But actually who cares?
The only loss figures from IT that matter are the ones related to your business.
The question is do you know how to calculate those losses. Are you attempting to track it?
IT losses are the combination of two figures:
How much money did you invest in a failed project in terms of hardware, software, service contracts, labor, etc.?
How much money did the company lose by losing out on the implementation of a new technology?
You should also consider that scenario when a new piece of technology rolls out successfully and then employees aren't properly trained or coached to use it and buy into it. A "successful" rollout can still be an IT bomb, subsequently.
In this economy, especially, can you afford to not know?
If Sessions is even close to right with his calculations, then don't feel so badly if this posting applies to you.