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THE STANDISH GROUP REPORT
Project Management
Muhammad Ghufran(MBA2K10)

THE STANDISH GROUP REPORT 1995 The Standish group report published in 1995 sum up’s Standish’s research findings and aims to recognize the causes of project failures and the key constituents that can shrink project failures. Some of the key details from this report are as follows: Records and Statistics:           In United States $250 are spent on IT application development of 175,000 (approx) projects. 31.1% of the total projects started are cancelled before they ever get completed. 52.7% of the projects will cost 189% of their initial estimates 9% of the projects come in on-time and on-budget in large companies. Only 16.2% of the projects are completed on time and on budget on average. 52.7% of the projects are challenged. For every 100 projects that start, there are 94 restarts. The average cost overruns of all the projects are 189% of the original cost estimates The Average time overruns of all the projects is 222% of the original time estimates.

On average, only 61% of originally specified features and functions were available on these projects.

Remarks: The facts and figures mentioned in the report are of key importance because they tend to show the position of the project. These statistics briefly explain why different projects fail, and the mistakes can also be identified that cause the failure/impairment of the project. If these mistakes are looked over they can be avoided and the failures can be reduced in future. Furthermore it is mentioned in the Standish report 1995 “Projects are in chaos and we can no longer imitate three monkeys—hear no failures, see no failures, speak no failures (Standish Group Report, 1995). The Standish report also highlights many factors that cause success of a project, project challenged factors, project impaired factors. Three important factors according to survey are mentioned. Three key ingredients for a successful project are User involvement, Executive management support, and a clear statement of requirement. Three key ingredients that cause a project to be challenged are lack of users input, incomplete requirement and specifications and changing requirements and specifications. Three key ingredients that makes a project impaired i.e. incomplete requirements, lack of users involvements and lack of resources. The Standish report mentions that there is great possibility that he project can fail and the cost associated to the failure of the project is huge. So for the successful completion of every project we must not pay attention to the factors the can make a project successful but also avoid all those factors that can make a project impaired or challenged. In the report there were case studies giving insights into failure and success of projects of different companies. These projects were compared with each other on a given weighted criteria. The companies who were studied were California DMV, American Airline, Hyatt Hotels and Banco Itamarati. One important thing mentioned in the report is “If you begin with luck, you learn nothing but arrogance. However, if you begin with failure and learn to evaluate it, you also learn to succeed”. References (1995). Standish Group Report.

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