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Successful software development projects deliver the agreed to scope on-time and on-budget.  Using this definition for success, studies continue to show that software projects are more likely to fail than succeed.  The following statistics are from the Standish Group's Chaos Report which is widely regarded to be the landmark study on software project failure:

     -> 31% of projects will be cancelled
         before they get completed (PM, SD)

     -> 52.7% of projects cost over 189% of
         their original estimate (PM)

Only 9% of large company projects
         come in on-time and on-budget (PM)

Projects completed by large companies
         have ~42% of the proposed scope
         (PM, SD)
Each problem statistic is Project Management (PM) and/or Software Development (SD) related. 

Although not explicitly mentioned in the Chaos Report, segregated PM and SD Life Cycles contribute to the chaos.
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