Analysts predict $3.5 trillion will be spent on IT projects worldwide in 2017, however for every $1 billion invested in the US, $122 million is wasted due to poor project performance. Three in ten major IT projects fail, and 75% of business executives expect their software projects to fail. Fewer than one third of projects are completed on time and on budget. Failed projects can damage brands, partnerships and morale while losing investments and opportunities. Proper project planning and management is needed to avoid these issues and failures.

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2.  Analysts predict that $3.5 Trillion will be
spent worldwide on IT projects in 2017.
 For every $1billion invested in the US$122
million is wasted due to lacking project
performance.
 75% of business and IT executives
anticipate their software project will fail.
 Fewer than a third of all projects were
successfully completed on time and on
budget over the past year.
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Gartner Group

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 The consequences
of failed projects
include:
◦ Damaged brand
◦ Lost goodwill
◦ Dissolution of
partnerships
◦ Lost investment
opportunities
◦ Low morale

4. These three variables
 Time
 Cost
 Scope
Are interdependent,
you cannot
change one
without changing
the others
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5.  Benjamin Franklin’s timeless advice - by failing to prepare,
you prepare to fail - applies to software development
projects
 The Hackett Group analyzed 2,000 companies and
discovered:
◦ Three in 10 major IT projects fail
◦ 21 percent of the companies state that they cannot adjust rapidly
to market changes
◦ One in four validates a business case for IT projects after
completion
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6.  Common reasons why IT projects fall behind
schedule or fail
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7.  Project – temporary endeavor
undertaken to create a unique
product, service, or result
 Project management – the
application of knowledge,
skills, tools, and techniques to
project activities to meet
project requirements
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8.  The Project Management Institute (PMI) develops
procedures and concepts necessary to support the
profession of project management (www.pmi.org)
and has three areas of focus:
1. The distinguishing characteristics of a practicing
professional (ethics)
2. The content and structure of the profession’s body of
knowledge (standards)
3. Recognition of professional attainment (accreditation)
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9.  Project deliverable – any measurable, tangible, verifiable
outcome, result, or item that is produced to complete a
project
 Project milestone – represents key dates when a certain
group of activities must be performed
 Project manager – an individual who is an expert in project
planning and management
 Project management office (PMO) – an internal department
that oversees all organizational projects
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11.  Top five
successful
project
management
strategies
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Define Project
Success
Develop
Project Plan
Divide and
Conquer
Plan for
Change
Manage
Project Risk