How failure results in lessons learned. Failure happens. Despite the popularity of that macho business slogan, sometimes failure actually is an option. Certainly not one we would choose. But one that chooses us. So how do we count the many ways to fail? There are failures of leadership and strategic thinking gone awry. There are failures of communication, leading people to bad decisions or mistaken assumptions. There are failures of business models that no one could foresee or forestall. But the real test for CIOs these days is not merely surviving failure but gaining wisdom from its intrinsic lessons. Unfortunately for us all, the current economy probably has many more such assignments to dole out. Our cover story this issue is all about extracting value from failure—even in a culture that glorifies winning at all costs. “It takes both courage and some political capital to stand up and say, ‘We’ve made a mistake,'” says CIO Don Goldstein of $5 billion CB Richard Ellis, a commercial real estate services company. In describing the wrenching decisions that CIOs must sometimes make to halt wayward IT projects, he notes, “You make commitments. The last thing you want to do is not live up to them.” As you read the searingly honest accounts of these lessons-learned-under-fire, you may recognize familiar scenarios from your own career. Like the time you picked a project leader who alienated the senior business team, as CIO Chris Barron of CPS Energy did. Or the time a major network outage showed just how far past its limits you’d pushed existing infrastructure, as CIO John Halamka of Beth Israel Deaconess Medical Center did. Yet the resiliency that failure builds can be a definite plus on an executive résumé—the mark of a leader able to handle adversity. That’s happening in real-time for CIO Rob Fort of Virgin Megastores North America, as the company closes all its U.S. music stores and Fort manages the shutdown. “I have the desire to do this with integrity,” he says. Indeed, integrity is never in short supply with our readers. We are especially grateful to the CIOs who so generously shared some of their most difficult personal and professional hurdles with us for this story. As CIO Twila Day of Sysco so aptly puts it: “You learn more when something goes wrong than when everything goes right.” Do you Tweet? Follow me on Twitter @maryfranjohnson. Follow everything from CIO Magazine on Twitter @CIOMagazine. Related content events promotion Australia's CIO50 Team of the Year Awards finalists revealed Along with the unveiling of the annual CIO50 List and the team category winners, the 2023 CIO50 Awards will also recognise the inaugural Next CIO winner and a new Hall of Fame recipient. By Cathy O'Sullivan May 31, 2023 3 mins IDG Events brandpost API security: key to interoperability or key to an organization? Understanding the risks of using APIs and how to prepare to address those risks. By Keith Zelinski, Managing Director, Technology Consulting May 31, 2023 6 mins Digital Transformation brandpost Designing the campus of the future starts with high-quality 10 Gbps connectivity By Huawei May 31, 2023 4 mins Network Architect Networking Devices Networking brandpost How an Indian real-estate juggernaut keeps growing by harnessing the power of zero A South Indian real-estate titan is known for the infinite variety and impressive scale of its projects, but one of its most towering achievements amounts to nothing literally. By Michael Kure, SAP Contributor May 31, 2023 5 mins Digital Transformation Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe