As we begin 2019, you’re probably among the many CIOs around the globe reviewing strategic objectives and thinking about how to successfully execute the ever-increasing number of strategic projects without any significant proportional increase in your IT budget. And burning in the back of your mind are all the statistics about project failures.
McKinsey & Company writes about 17 percent of IT projects go so badly, they threaten the existence of the company. Gartner states that the failure rate of projects with budgets over $1M is 50 percent higher than the failure rate of projects with budgets below $350,000. And then there’s the State of Rhode Island, where a $110 million-dollar project cost nearly three times as much. I’m sure you don’t want to be the next statistical reference. So! Why do project failures keep occurring?
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Source: IT Strategy