According to research conducted by the Standish Group (2014) only 16% of these projects are successful, whereas 53% are challenged either with budget overruns or under delivered requirements and 31% of the projects are canceled before completion.
Top Ten Causes for Challenged or Canceled Projects
- Lack of user representation
- Incomplete requirements
- Lack of executive support
- Changing requirements
- Lack of resources
- Unrealistic expectations of stakeholders
- Unclear objectives
- Unrealistic timeframes
- Technology incompetence
- New technology