A Gartner survey in 2012 cited that large IT projects “are more likely to fail than small projects…due to functionality issues and substantial delays.” Projects with budgets greater than $350,000 exceeded budgets 25% of the time. The failure rate of projects greater than one million dollars was almost 50% higher than projects with budgets below $350,000.2 The survey cited the following six key issues that led to project failure:
- Functionality issues
- Substantially late
- Quality issues
- High cost variance
- Cancelled after launch
- Rejected or not implemented for other reasons
Not much changed over the years.