Change is a constant in the information technology industry. Companies rise and fall as the rapidly evolving business environment erodes their initial success. A new wave of change is sweeping the industry and all the markets that rely on it, such as the federal government. Driven by cloud computing and related technologies and services, these changes are upending old IT business models and setting the stage for new operating models. Canny public and private sector CIOs will need to be aware of what’s in store, and what is needed to survive in this new environment.