PROJECT SUCCESS RATES
The Standish Group’s report on project failures, perhaps the most quoted report on project successes and failures, proclaims 68% of projects surveyed either failed or are behind schedule and/or over budget.
Standish Group’s 2009 assessment showed 24% of projects survey failed, 44% of projects were found to be behind schedule and/or over budget and only 32% of the projects surveyed actually succeeded.
In comparison, a 2000 survey conducted by the Group found 23% of projects surveyed failed, 49% of projects were behind schedule and/or over budget and only 28% of the projects surveyed actually succeeded.
Whereas, a 2006 survey found 35% of projects surveyed succeeded. The 2009 report therefore shows a 3% drop in success rates.
There are many key reasons why projects continue to have problems. Common problems may include:
– Roles and responsibilities not well defined
– Poor project team, customer and supplier integration
– Over optimistic estimates
– Projects not aligned with corporate objectives
– Lack of risk management
This is just a snapshot as to why projects commonly have problems. Does this sound familiar?
Want to adopt a best practice approach to avoid these problems from occurring in your organization? Learn more about best practice project management.