This tutorial, part 2 of a two part series on Knowledge Based Selection, demonstrates the selection processes and capabilities of Knowledge Based Selection Methods and Tools. These tools, integrated with business decision making procedures, can arguably reduce selection risk and improve chances for success in IT projects. Given the appalling rate of IT project failures, selection can potentially help reduce risk in some 30% of cases, with an associated estimated cost of about $30B annually to industry according to some sources. In this tutorial, we illustrate a number of the procedures for rapid decision processing through the real-life selection of a PDA device. The process gave confidence to the argument to wait for the solution, while weighing risk against return.
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$30 billion in wasted investment annually. On the vendor side, the challenge of educating the potential client of their offerings results in long sales cycles, meticulous and numerous RFI responses, and potential for a mismatch, result in projects that go awry. These failed projects do not bode well for the vendor, since the sales cycle costs can only rise, and their reputation can suffer. Consequences can be more severe for the client where it can, in extreme cases, lead to business failure.