Should new systems be purchased, developed in house (cover in-sourcing / self-sourcing), or outsourced?

Should new systems be purchased, developed in house (cover in-sourcing / self-sourcing), or outsourced? What are the benefits?  What are the areas of concern?

 2-3 page paper, MLA citations with  Name, course, and date.  Use 1″ margins, double spacing, a 12-point font, (preferably a sans-serif font, such as Arial).  Apply the 4-C’s of writing:  Correct, complete, clear, and concise.  Be sure to document your sources properly.