A pretty good article about information asymmetry in IT Projects and way of it’s reduction by Polish researcher Bartosz Wachnik (Linkedin):
On the basis of his conclusions, the author has designed the following recommendations that he implemented on practice:
• An agreement regulating the transaction of an IT system purchase and its implementation services should be more symmetrical and have a provision for interests of both sides. Including the so-called guarantee premium in the agreement is an important instrument reducing asymmetry, as part of fixed budget agreements. The premium would be paid by the customer after the completion of the whole project.
• A more effective preparation for project completion on the customer’s side.
• Recommended Agile project completion method. Using the Agile method in management support IT system implementation is characterised by:
− the method can be used in small project teams, i.e. up to about 10 key users on the customer’s side where the communication is smooth and there is no need to create a robust project documentation structure,
− methods aimed at a quick creation of systematised functionality groups of management support IT systems,
− the consecutive stages of configuring completed and closed functionality groups (e.g. pricing policy functionality, discount functionality in ERP or Balanced Scorecard configuration functionality in BI system) are integrated in iterations.