5 Reasons Why Software Development Projects Fail
Project failures are every companies’ nightmare, yet, it has become one of the most recurring occurrences in many organizations. A recent study shows that over 70% of organizations suffer at least one project failure every year and 50% indicated that the software was subsequently discarded after implementation. In fact, 80% of software had to evolve several times from its initial intent and methodologies in order to remain relevant to its users in this rapidly changing society.
This is why it is indeed saddening that in spite of the advancement of the IT sector as one of the top-performing industries and the wealth of available resources in terms of experienced experts, complex software tools and numerous online libraries, globally, software development projects still record an all-time high failure rate.
This means that despite the accomplishments being noised about, many companies still incur massive costs, debts and waste of opportunities which inadvertently affect profit and growth rate. This massive amount of financial and human resources being wasted yearly in the IT sector could have been avoided if the management and entire software development team had taken into consideration some very common pitfalls from the onset.
So, why do software projects really fail and what are the factors to consider in order to successfully execute a software project?
A project could fail for far more reasons than was stated above, these are just five out of many factors that could cause a project to fail. However, any determined project manager should constantly review the progress on the team, identify certain difficulties (as each project is unique in its requirements) and quickly identify ways to overcome these challenges.