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Major Reasons for IT Project Failures

Statistics show that most projects fail for some reason or other. What are the major reasons for IT project failures?

Hint: Is it due to problems with the project management life cycle, product development life cycle, incompetent project manager, poor execution, or what else?

Be very specific when you identify the reasons for failure. Make sure that you justify your reasoning; indicate your source of information (observation, own experience, studies done by others, etc.).

Solution Summary

This solutions presents major reasons for IT project failures. It also includes three studies that were done on project failures and a short history on project failure. It is approximately 3,000 words and includes 7 references.