Grid computing is the sixth highest IT investment priority for 2004, according to research released at IDC's utility computing conference last week.

Anticipated return on investment (ROI) and a reduction in internal politics relating to grid ownership, are the two key factors cited for the rise in prominence of the technology.

'Grid computing is a strategic IT investment because it is high return and low risk,' said Ian Baird, chief business architect at Platform Computing.

'With grid, IT decision makers should think big, yet start small by building a business case with one or a couple of grid-enabled applications or departments.

'This survey clearly shows that key decision-makers believe grid computing is a critical technology for businesses,' he said.

One of the highest profile grid projects in the UK to date, is Oxford University's initiative to tackle two of the world's biggest medical problems.

The Integrative Biology Project is the university's latest research in the fledgling field of e-science, focusing on heart disease and cancer, which together are responsible for six out of 10 deaths in the UK.

Researchers on the project will create a grid of computing resources to allow them to model complex biological systems, using advanced computer simulations to help understand and treat disease.

But at its annual IT symposium last November, Gartner recommended avoiding newer technologies like grid computing for a few more years while they mature.

'We're starting to see an improvement in IT spending, although it's important to realise which technologies can really deliver value today and which should be avoided for a few more years,' said research chief Steve Prentice.

The grid computing survey, conducted by Platform Computing, polled over 100 IT decision makers to identify IT investment priorities for 2004.