Summary of Chaos Report

599 WordsMar 19, 20153 Pages
The first CHAOS report, published in 1994, shocked many IT project managers since it shows that only 16% of IT projects were successful. Standish group, which claimed that they gathered this information from more than 8300 surveys, was categorized the companies as small, medium, and large depends on their yearly revenue. Also, they categorized the projects as success, challenged, and canceled, where Success projects meet all requirements and have been done in specific time and budget. The challenged project where they partially done but did not meet the specific time, or they did not fit the budget. The report shows that lowest percentage of successful projects with only 9.7% in the large companies and 61% challenged projects, the highest percentage among companies, and 29% of projects were cancelled. In the medium companies they found that 16.2% of projects are considered successful projects, 46.7% as challenged projects, the lowest among companies, and the highest canceled projects with 37.1%. Not like others, small companies have the largest successful projects with 28%, and lowest canceled projects with 21.6%, that leaves 50.4% from their projects as challenged projects. The report also shows that the cost in challenged and canceled projects exceeded the estimated budget with an average of 89%. The time of these projects also passed the estimated time by average of 122%. Although these projects did not meet the time or budget, the average of delivery of these projects are 61%. Last statistic shown in the report is the factors that lead projects to be success, challenged, or canceled. User involvements, Executive managements support, and clear statement of requirements became the first factors leading projects to success. In contrast, incomplete requirements, lack of user involvement, and lack of resources are the most factors result in failure projects. As a

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