Project Failure Files: Whether to Build or Buy

In Episode 33 of the Project Failure Files weekly webcast, our focus was “Building versus Buying,” in which Sharon and I explored the critical decision-making process behind building custom solutions versus purchasing off-the-shelf products. This choice significantly impacts cost, timelines, scalability, and alignment with business goals. We discussed how custom-built solutions provide full control and customization for unique requirements, but often come with higher upfront costs, longer development timelines, and maintenance responsibilities. Conversely, buying ready-made solutions enables faster implementation and access to vendor support but may lack flexibility and customization options.

Key factors to consider include project scope, available resources, cost, and the required time to deliver. Evaluating the total cost of ownership, scalability, and integration compatibility is essential for making an informed decision. Additionally, we highlighted strategies such as performing needs assessments, cost-benefit analyses, and involving key stakeholders in the decision-making process to align the final choice with long-term business objectives.

Ultimately, a structured approach to the build versus buy decision helps optimize resource allocation, improve decision-making, and maximize value. Whether choosing to build or buy, aligning the decision with project needs and organizational goals ensures more efficient execution and lasting success.

Enjoy the episode!

Be sure to tune in next Monday, February 3rd at 9am Pacific for Episode 34 of our weekly series as Sharon and I discuss “The Value of Automation to Enhance Efficiency and Accuracy.“  Hope you can join us on LinkedIn or YouTube.