Recession Causes Rising IT Project Failure Rates
Recession-related IT budget slashing and layoffs are taking their toll on IT project success rates, according to the results of the latest CHAOS Summary 2009 report from The Standish Group.
The Boston, Mass.-based IT project management research and consulting firm surveyed 400 organizations and found a decrease in IT project success rates and an increase in IT project failure rates during the past two years. Specifically, 32 percent of IT projects were considered successful, having been completed on time, on budget and with the required features and functions. Nearly one-in-four (24 percent) IT projects were considered failures, having been cancelled before they were completed, or having been delivered but never used. The rest (44 percent) were considered challenged: They were finished late, over budget, or with fewer than the required features and functions.
[ For related stories, see Common Project Management Metrics Doom IT Departments to Failure, How to Spot a Failing Project and Project Management: The Most Common Mistakes IT Departments Make. ]
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