Edition 2 – Not clearly defining what you are buying
In our experience, issues in tech projects often arise simply because the parties have not clearly defined what the supplier is committing to provide to the customer, not to mention how and by when. It may sound like an obvious point, but if the customer has not clearly defined the fundamentals of what they are buying, this can lead to uncertainties rippling through the rest of their arrangements. Disputes about price, scope and performance often follow.
It is not unusual for us to progress through extensive negotiations of the front-end terms of a tech project agreement, resolving legal aspects around termination and liability, only to find that the description of the project solution itself has not been completed to a sufficient level of detail. There can then be pressure to push ahead and execute the agreement regardless, based on a commitment to build out further detail about the solution in due course. While this may seem like a good idea while the parties remain in a positive and collaborative mindset, in our experience it can also invite disaster should the project not proceed exactly in the manner hoped.