Why Projects Fail

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Technology projects worldwide are costing companies billions of dollars more than they budgeted for, and almost half don 't live up to the clients ' expectations. Newspapers and business dailies trumpet few project successes but a massive number of failures. As projects grow larger and more complex with every passing year, their outcomes - both successes and failures - become fodder for the media and our competition. Unfortunately, project failures tend to predominate as they not only make sensational stories but also are far more common. What are the odds that your next information systems/information technologies (IS/IT) project will be delivered on time, within budget, and to user expectations? Pretty grim, unfortunately, if you…show more content…
How should we go about this project? i.What is this project all about? One primary reason for project restarts, or outright failure, is the lack of a project mission, which at this early point means a careful analysis of the problems or opportunities and their possible impact on the organization. Team members, customers, and other stakeholders need a good understanding of the project 's fundamental components - goals, objectives, scope, problem statement, constraints, and vision. A good test of whether or not a project is understood is to walk around and ask various participants what they think it 's all about. A crisp, business-oriented, non-technical answer usually means the project 's groundwork is well established. The answer could be what we refer to as a project objective statement: a short, concise, high-level summary of the project. For example, 'To identify and deliver a production-ready, state-of-the-art geographic information system to include online service provisioning and assurance subsystems by July 9, 2002." ii. Should we do this project? The second major question answered by a good feasibility study is whether or not the project should proceed. The very name "feasibility" indicates one possible outcome is not to proceed. A significant portion of the multi-billion losses on software projects comes from projects that should never have gotten past the feasibility stage, but got caught up in corporate egos and politics. Once the problems
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