Are out of control projects really a problem in most companies? According to the Standish Group, 70 percent of projects are over budget or behind schedule. Why is this?
IT projects fail because they are out of control, over budget or broken. Companies must figure out which of their IT projects are high risk and which ones are low risk. The best way to measure that risk is to track employee time spent on projects, while simultaneously estimating how much of the project is complete. If the project budget is 1000 person-hours and 50 percent (i.e. 500 hours) is used up -- but the project is only 15 percent complete -- then you know you have a high risk project, and a big problem.
Conversely, if the same project is 40 percent complete, but only 10 percent of the hours are used, then you have a low-risk project.
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