This is no time to waste money, but plenty of IT departments waste money on development. Here are a few ways outlined by TechRepublic.com that should be warning signs for you. Here are just a couple of them:

• Make sure you are not penny wise and pound foolish. It happens pretty often that IT shops spend too much time perfecting one component of a project at the risk of adding too much cost to it.
• Be careful about outsourcing because it may cost more than it saves.

There are plenty of ways to spend too much money on projects, trying to meet deadlines and providing the biggest bang for the buck. But unless you have some good ideas that have been tried and tested in the past, be careful. Watch how much money you are spending for development and do not take any risks with the unknown.

For more on how to avoid wasting money:
- check out this TechRepublic.com article