The failure rates of IT projects are well publicized. Biennial studies by The Standish Group found that, in 2006, 65% of IT projects failed or were challenged (“challenged” projects were those which did not satisfy all criteria for success but delivered useful products at the end).
Business leaders consider a project successful based on several criteria. The criteria most commonly used are:
- adherence to scope,
- stakeholder and management satisfaction,
- quality of deliverables,
- project timeliness, and
- budget variance.
