The project to provide an IT system to support a new way of working with offenders was to be introduced by January 2008, and had an approved lifetime cost of £234 million to 2020. By July 2007, £155 million had been spent on the project, it was two years behind schedule, and estimated lifetime project costs had risen to £690 million.
If you’ve worked at enough companies in the IT industry, you’ve probably noticed that the most talented software developers tend to not stick around at one place for too long. The least talented folks, on the other hand, entrench themselves deep within the organization, often building beachheads of bad code that no sane developer would dare go near, all the while ensuring their own job security and screwing up just enough times not to get fired.
Road Map for Financial Recovery: Radical Transparency Now!
A year ago, it was hardly unthinkable that a math wizard like David X. Li might someday earn a Nobel Prize. After all, financial economists—even Wall Street quants—have received the Nobel in economics before, and Li’s work on measuring risk has had more impact, more quickly, than previous Nobel Prize-winning contributions to the field. Today, though, as dazed bankers, politicians, regulators, and investors survey the wreckage of the biggest financial meltdown since the Great Depression, Li is probably thankful he still has a job in finance at all.