Article2003

Delusions of Success

383 citations0/0 files storedHarvard business review

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Information Technology Governance and Strategy Construction Project Management and Performance ERP Systems Implementation and Impact

Abstract

IN 1992, OXFORD HEALTH PLANS started to build a complex new computer system for processing claims and payments. From the start, the project was hampered by unforeseen problems and delays. As the company fell further behind schedule and budget, it struggled, vainly, to stem an ever rising flood of paperwork. When, on October 27, 1997, Oxford disclosed that its system and its accounts were in disarray, the company's stock price dropped 63%, destroying more than $3 billion in shareholder value in a single day.

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