1.Commit to an ongoing investment in governance. Analysis of failed deals such as that between IBM Global Services and JP Morgan point to a failure to invest in project management and governance. Governance includes not only the reporting structures and decision-making mechanisms, but also the means to diagnose the health of the relationship, put in place early warning signals and revisit and refresh the relationship where necessary.

2.Don't let up. Yes, the contract stage was long and arduous. But the finish line of delivering value from the outsourcing relationship is still a long way off. Keep everyone's eyes on the prize through continued attentiveness to staffing, training and the process discipline of governance through transition and steady state.

3.Use third parties. The use of advisory third parties can help in the operations phase at least as much as during the contract phase, because such counsel lets both parties see the relationship through the eyes of an independent and objective observer. Often, we find that simply focusing both parties on the original intent of the deal and the relationship is the most constructive route to putting things back on course.

A Focus on Value Creation

At the highest-level, the most important factor in avoiding IT outsourcing failure is ensuring that both the organization and its service provider maintain a steady focus on the value creation opportunity rather than exclusively on price and cost. The value of an outsourcing relationship isn't measured by the contract, any more than the value of a marriage is measured by the wedding.

Keep in mind that:

• Attentiveness to milestones and not just timetables is essential to moving successfully through the transition period.
• Governance of IT outsourcing is hard. It doesn't pay to pretend otherwise. Take advantage of whatever tools and best practices you can to gain visibility into how the relationship is performing.
• Cost is one side of the coin of an outsourcing strategy. Optimal performance of IT processes is the other. If you focus on one side and ignore the other, you'll have trouble on your hands sooner rather than later.

And, speaking of coins: IT outsourcing success does not have to have the same odds for turning up as heads or tails. Companies can significantly improve their chances of successful outsourcing by being attentive to the distinctive challenges at all points along the outsourcing lifecycle.

Mark Robinson is executive director, Advisory Services and Peter Iannone is executive director, IT Advisory Services at outsourcing adviser EquaTerra