We were recently reminded of the impact of macroeconomic fluctuations as some 25% of all digital transformation projects were frozen or scrapped in 2020. Moreover, in certain industry segments, more than half of all projects were halted or abandoned. But even in more normal circumstances, business cycles always fluctuate, usually along industry lines but also by the individual organization, for a variety of reasons.
Development cycles, however, are not usually in sync: projects are started in good times. Still, they are expected to survive economic headwinds, even though projects are the first candidates for savings when the going gets rough. Projects more limited in scope enjoy definite advantages over long-term initiatives that are prone to mission creep and often attempt to solve yesterday’s problem three years later.
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