Why software projects fail

The Project Management Institute (PMI) studies show that about 14% of all software projects fail.

According to the experts at Forbes, these are the top 5 reasons why software projects fail:

Lack of clarity and execution strategy

The primary goal of a software project is to solve a business problem. It requires not only effective project management but also a clear consensus by the entire group of stakeholders on the definition of the business problem.

It further requires a robust execution strategy to deliver software that helps achieve the objectives. Failure to address any of the aspects outlined above results in a derailed project. - Kartik Agarwal, TechnoSIP Inc.

Unclear Requirements

One of the most common reasons software projects fail is unclear requirements and the lack of a detailed explanation. Very often clients themselves are not sure exactly what they want to see, and as a result, the project cannot move forward.

Communicating with your clients and asking them for their detailed vision of the future of the product is the key to ensuring that the project does not fail. - Daria Leshchenko, SupportYourApp Inc.

Expecting Overcustomization Of Software

Oftentimes, we believe that software can be customized to a level that will tailor to all needs. That's a misconception. Being realistic is important. Define the requirements regarding the software's capability. Making change requests as you go requires adjustments, but that's the hat that will need to be worn to avoid frustrations. - Bhavna Juneja, Infinity, a Stamford Technology Company

Too Many Hands In The Dev Pot

Establish (and limit) who's involved from day one, whether you're building in-house or not. This can be difficult for larger tech companies with complex processes and communication channels. But in the app development world, such complexity is detrimental to crafting a fully realized product that matches everyone's unique vision without falling prey to scope creep and a never-ending project timeline. - Joshua Davidson, ChopDawg.com

Expecting A 'Silver Bullet'

Too often, enthusiasm arises from the false belief that a proverbial "silver bullet" will solve a given problem. However, proper solutions are rarely so simple—they are a blend of methodology, strategy and team support, not the result of a single action, technology or idea. Tech leaders should encourage open communication and leverage participatory group decision-making to solve challenges. - Christopher Yang, Corporate Travel Management.

Peak Consulting begins every new software project only after thorough consultation with all stakeholders to ensure expectations are achievable, time frames are realistic, responsibilites are defined and budgets are agreed.