Recent stats from the US highlighted that around 39% of projects valued in excess of $10m failed, representing huge costs to the investing organisation.
Large projects, especially those in the technological and engineering sectors, have a poor track record. Cross industry research undertaken by PriceWaterhouseCoopers into over 10,500 projects from 200 international companies found that only 2.5% of sample companies successfully completed all projects.
Add to this the numbers of more informally run and monitored projects, and it is quite feasible to suggest that 50% of projects across the entire value spectrum must be failing in some way or another. Considering the huge investments organisations are making with their PM training initiatives, we should be wondering why all projects aren’t completed on time, on scope and under budget.
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