Manage IT as a Business: How to Achieve Alignment and Add Value to the Company

Information systems and technology have now been around for almost 50 years. During this time, we have all seen many improvements in hardware, communications, and software. Miniaturization, continuously improved price-performance, and automation of more complex work are three specific areas of change. That is the bright side.
The dark side is the fact that the percentage of information technology (IT) projects and work that fail remains very high. Depending on which survey you read, you find that less than 40% of IT projects fail to deliver tangible benefits; less than 50% are completed on-time and within budget. A high percentage never are completed. Unfortunately, these numbers have not changed for the past 20 years. This is despite improvements in technology, new methods, and techniques that have been created. In this regard, many methods for management of IT and doing the work in IT have often promised much and delivered little. Methods come and go. People grasp a new concept hoping that this is the magic bullet for IT success. Yet, failure continues; success remains elusive.
Here are some specific problems with IT and IT management today.
IT is not perceived as being aligned to the business. Many IT groups seem to work on marginal projects and work. IT works on the wrong stuff.
Too much of IT effort and resources are consumed by support and maintaining the existing IT systems and technology.
IT becomes too easily enamored with new technology to the...