WHY AXIOBIT

  • 70 percent of projects fail. [source: 4 PM]
  • The failure of IT costs the U.S. economy about $50-$150 billion annually. [source: Harvard Business Review]
  • Just 40 percent of projects at IBM meet the company’s three key goals (schedule, budget, and quality). [source: IBM]
  • 17 percent of IT projects go so badly; they threaten the existence of the company. [source: McKinsey & Company in conjunction with the University of Oxford]
  • Only 2.5 percent of companies successfully complete 100 percent of their projects. [source: Gallup]
  • 57 percent of projects fail due to breakdown in communications. [source: IT Cortex]
  • The failure rate of projects with budgets over $1M is 50 percent higher than the failure rate of projects with budgets below $350,000. [source: Gartner]
  • 73 percent of respondents admit that their projects are either always or usually “doomed right from the start,” including 27 percent who always feel this way. [source: Geneca]
  • The project failures represent optimistically a loss out of $150 billion (and 37 billion pounds in UK) per year in the United States. [source: Gallup]
  • Just 42 percent of organizations report having high alignment of projects to organizational strategy. This lack of alignment of projects most likely contributes to the surprising result that nearly one half of all strategic initiatives (44 percent) are reported as unsuccessful. [source: PMI]
  • 75 percent of respondents lack confidence in project success. Fuzzy business objectives, out-of-sync stakeholders, and excessive rework are key culprits. [source: Geneca]
  • Only 26 percent of all projects succeed. [source: PMI]
  • The average overrun was 27 percent, but one in six projects had a cost overrun of 200% on average ad a schedule overrun of almost 70 percent. [source: Harvard Business Review)

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