IT Project Management Assignment Example | Topics and Well Written Essays - 750 words

IT Project Management - Assignment ExampleBesides being a way of trim back costs for organizations, outsourcing is a crucial aspect of growth and a strategic service. Basically, outsourcing comprises of reassigning at least wholeness ancestry process to an external vendor or service provider. Often, organizations outsource specific functions that were originally recess of organizational departments. The specified functions focus on business core competencies with good and clear reasons driving such(prenominal) actions. The four key reasons for outsourcing are outlined by Axelrod. Cost efficiency is associated with saving money and lessen operating costs. Outsourcing grants organizations access to world class skills and capabilities that enable them to tap from the best examples within their industry translating to pitiable costs and high quality. Additionally, reduction of operating costs eliminate debts, falling profitability, and low expansion opportunities. Secondly, outsour cing allows business to utilize shared knowledge accumulated by the IT service provider over years of love in the field. Additionally, the service provider has a unique mix of skills and talent that can successfully wield a project, unlike in-house department. Thirdly, outsourcing controls legal risk or improves compliance since the service provider assumes and manages some of the risks of the business. Additionally, a service provider understands the industry requirements in and out and these assists prevent instances of costly mistakes resulting in an agile, dynamic, and flexible business.