Why Do IT Projects Fail
One recent study says that:
- 31% of IT projects are cancelled before they get completed.
- 53% of IT projects cost get increased almost twice their original estimates.
Followings are some reasons behind this failure:
- Lack of Professional approach by Business Analysts/Project Managers:
- Not capturing complete project requirements from all the relevant stakeholders who are important part of the project.
- Not using the right requirement capturing technique & tools depending on the complexity and needs of the project.
- Not capturing all the relevant details about the project, business, and desired output.
- Not having professional measures such as check-list to ensure if the requirements have been captured in the correct way in order to run the project smoothly.
- Not involving stakeholders in the SDLC of the project in order to take their reviews/feedbacks.
- Lack of communication with stakeholders on regular basis.
- Market driven – Change in the project requirements from stakeholder end.
Project failure can be avoid with proper documentation, good project planning & regular communication. However, once a project starts to fail, there are techniques to recognize it, Business Analyst/Project Manager needs to minimize the extent of the project failure and make the project recovery as successful as possible in the early SDLC stage.