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Project Management Slideshow:
10 Truths About Project Planning

By Ericka Chickowski on 2009-04-06


The development of business requirements and project parameters can make or break an IT project.

The data in this slideshow comes from an IAG Consulting report called Business Analysis Benchmark, which was culled from a survey of over 100 organizations which carried out IT development projects with an average budget of around $3 million.

A key takeway: mixed project-planning teams that include business and IT people tend to get the best results.


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Approximately 68% of companies surveyed were statistically unlikely to run a successful project, based on the findings in the survey.

Companies with poor business analysis are three times as likely to see their projects fail

Bad project requirements can exact up to a 60% hike in budget and time.

For a $3 million budgeted project using a set of poor requirements, companies will pay an average of $5.87 million.

The typical organization tends to use up 41.5% of new project development dollars on unnecessary or poorly specified requirements.

When non-IT business leaders set project requirements, projects come in at:196.5 % of the target budget245.3 % of the target time And 110.1% of the target functionality originally set by requirements

When IT leaders set project requirements, projects come in at:162.9 % of the target budget172 % of the target time And 91.4 % of the target functionality originally set by requirements

When a mixed team of IT and non-IT leaders set project requirements, projects come in at: 143.4 % of the target budget159.3 % of the target time And 103.7 % of the target functionality originally set by requirements

Over 50 % of organizations do not have the basic business processes and procedures in place to establish effective business and software requirements for new projects.

Project failure associated with poor requirements can be slashed on over 80 % of projects by auditing three areas within requirements documentation:Uncovering interdependenciesSetting ambiguous goalsDocumenting information required to support the process.

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