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Racing IT – Introduction

29 January, 2013 Leave a comment
Formula 1 Starting Grid, picture from http://www.thecarwallpapers.com

Formula 1 Starting Grid, picture from thecarwallpapers

Formula 1 (or Grand Prix) is the leading motor sport competition in the world. It is a global competition, consisting of 11 teams competing against one another at 20 different international venues. Formula 1 is a glamour sport where actors, politicians and other famous personalities associate themselves with the teams and the sport. The top teams have budgets of hundreds of millions of dollars. Ferrari, the longest running and most valuable team in Formula 1 is worth more than a billion dollars in terms of merchandise, intellectual property and sponsorships.

Formula 1 is a high stress environment where the teams are under constant scrutiny by the media, supporters and business partners. Week in and week out the teams need to stay competitive while managing this stressful environment. A single mistake can end a campaign leaving the team open to criticism and failure. Good management and teamwork is of the essence to ensure a winning and successful season. It is a highly innovative sport where continuous improvement to the car is the difference between staying competitive and just taking part. While the current racing cars are continuously improved, the teams must also manage the design and testing of their cars for the next season. Read more…