IT projects often fail to meet goals for scope, time and cost. A 1995 study found that only 16.2% of projects met all goals, while over 31% were cancelled. More recent studies show improvements, with the number of successful projects doubling to 35% and cancelled projects decreasing. This is due to factors like better tools, more skilled project managers using improved processes, and projects with smaller scopes. Project success requires meeting scope, time and cost goals, satisfying stakeholders, and achieving intended benefits.