IT outsourcing (as a part of an outsourcing definition) is the use of external service providers to deliver effectively IT-enabled business process, application service and infrastructure solutions for business outcomes. According to the latest statistics in 2018, the global outsourcing market amounted up to $85.6 billion. The amount is impressive, but in 2014 it was much higher — $104.6 billion. Why do businesses decide to hire outsourcing companies? Companies all over the world outsource various business operations.
Outsourcing is a rather popular approach for the software industry. Companies start to use it because they want to solve some internal issues. They want to reduce the cost, increase the speed of producing, and use intellectual property. Every outsourcing company has its own approach to project management. Most of them have project managers or scrum masters on the board. These positions are responsible for the process of development. Is project management enough for the successful business model of software development company?