IT industry is facing intricate dilemma represented by the high rate of failure of IT projects. The phenomenon is proven by authenticated statistics and, indeed, by personal professional experience. Surprisingly, the average rate of failure ranges around 60 percent. This book is a punch of deep insights on how to use the contract to deal with perils and caveats embedded in software and IT projects. The underlying approach of the book to overcome such dilemma is based on the premise of the coherent and fair contract being the general framework and appropriate venue that should contain and accurately record elements for project success. The contract is where the scope of works are specified, the deliverables are detailed, the realistic timeframe for implementation are set out, the methodology for sound project management is put forth, the testing criteria is identified, the mechanism for changes and modifications are determined, the dispute resolution procedures are stated, etc. It is the contract that grants the parties ample opportunity and time to contemplateas long as everything will be recorded and documentedthe effectiveness of success elements and factors. As a specimen, the ME legal system has been used to apply the underlying concept of the book.