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What has the economic meltdown done to your IT projects?

One of the, if not the primary, factor to take into consideration when rolling out a new IT project is ensuring there's an available budget for it. With the economy in a near meltdown, budgets are disappearing as fast as Wall Street investment banks. Has it affected you yet?

One, if not the primary, factor to take into consideration when rolling out a new IT project is ensuring there's an available budget for it. With the economy in a near meltdown, budgets are disappearing as fast as Wall Street investment banks. Has it affected you yet?

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I came to TechRepublic almost ten years ago during the Internet Gold Rush era. As many of you may remember, the DotCom bubble burst in the early 2000s, and the entire Internet industry hit the skids. Companies that were worth hundreds of millions of dollars disappeared seemingly overnight. Even CNET, which wound up acquiring TechRepublic at the top of the bubble, saw its stock price go from the high $80 range down to a mere 69 cents.

As the Internet industry started to recover, the same thing happened to the general economy. It's at such a massive scale that the press is even talking about whether this means the end of American capitalism and if we need the Chinese to save the world. Certainly at some point the panic and perceptions of doom wind up being a self-fulfilling prophecy, but there's no doubting that these aren't fun times for business.

At a more microeconomic level, as IT leaders we have more to deal with the worry of whether our companies will fail and we'll be out of work. We also have to face the consequences of the credit industry drying up and the effects it will have on our IT budgets. In a time when businesses can't borrow to meet payrolls, funding an IT project becomes an additional problem.

Has it affected you yet?

How's your organization holding out so far? Has the economic meltdown affected your business in general or caused you to rethink any of your IT projects? Take the poll below and sound off in Comments:

3 comments
JohnMcGrew
JohnMcGrew

Yes, it's going to get tough out there and the easy money is going to dissapear. However, times of turmoil always provide opportunity for those looking to spot them. For one thing, the entire economy is not just going to close shop. But what clients and potential clients are going to do is get lean and mean, and that has always meant opportunity for IT. Remember, the original mission of IT was to make operations more efficient, and anyone able to sell cost savings in this environment is going to survive and even thrive.

reisen55
reisen55

My independent career has been destroyed, customers do not pay on time so I have thrown in the towel and am job hunting for a corporate job. I am keeping some existing business on the side, but that is all. Anyone else?

John Sheesley - TechRepublic Pro
John Sheesley - TechRepublic Pro

The Dow keeps dropping faster than Congressional and Presidential approval ratings. Bankers hit the government up as if its their personal ATM. Credit has dried up for a lot of businesses. Eventually, it all trickles down and winds up affecting your IT budget. Has your budget been affected by the meltdown yet? Take the poll in Decision Central: http://blogs.techrepublic.com.com/decisioncentral/?p=158 See what's going on with other TechRepublic members and voice your opinion about how it's affecting you.

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