Project failure statistics from the British Computer Society show that 31 per cent of all IT projects will be cancelled before they’re completed. A further 52 per cent will cost more than originally estimated. In fact, just one in eight can be considered truly successful.
What is your advice to those who continue to use the Chaos Report project failure statistics, without really understanding the basis of its conclusions?
Project Management failure statistics
Personal experience suggests that companies attach significantly less importance – in terms of resources and time – to internal business change than to external client-facing change. If this is the case, then project failure statistics will continue to provide miserable reading.
This infographic shows important project failure statistics. 75% of IT project leaders believe their projects are “doomed from the start”. 70% of companies report having at least one failed project in the last year. 64% of projects meet their goals. Before we go on, it’s important to know that there is absolutely no reason to put in millions of dollars just to end up a failing project. With proper tools for resource planning and project planning, you can eliminate the 17% of large IT projects going so badly that they threaten the existence of the company.