When it comes to software development, the latest research from the Standish Group presents very little in the way of good news. Failures are up and projects are considered less successful.
Just 32% of all projects deliver on time and on budget, with required features and functions (see further reading, below). Standish estimates that 44% of software projects are late, and over budget, and another 24% fail and are cancelled prior to completion, or delivered and never used.
The figures do not make impressive reading for IT executives, especially at a time when the business is putting pressure on the technology department to deliver more with less.
One thing is for certain; the current economic climate definitely does not help. Standish suggests the recession has helped push IT project failure rates higher and estimates that as much as 20 to 25% of failures during the last two years could have been caused by the economy forcing project cancellations (see further reading).
The upside is that IT departments are being persuaded, or even forced, to re-evaluate technology initiatives. Projects that might previously have stumbled towards completion are being canned as a result of the recession.
Good IT can help users work more effectively and efficiently, saving the business time and money. Bad technology is a money pit and too many IT executives end up pouring good money after bad, attempting to fix projects that do not provide a usable interface.
But it doesn’t have to be like this. While new economic realities help executives cull costly IT projects, remaining projects will still regularly fail to meet user expectations, as the Standish report confirms.
For your remaining projects, look for specialist approaches and tools that can help ensure your projects run in-line with user demands. An agile development approach will help you to make such tests on an iterative basis.
Supported by the edgeConnect platform, which enables much faster entry points to development than traditional tools, analysts estimate EVA can reduce development cycles by as much as 85%.
With project failure rates rising and IT executives struggling to justify the cost of technology initiatives, investing in an iterative development approach could be your must successful decision of the year.