Date Added: May 2010
The failure rate of all significant change initiatives is approximately 70%. A global survey conducted in 2008 by McKinsey and Company offered the insight that organisations could only hope to survive by constantly changing, but approximately two thirds of all change initiatives fail. A Computer Weekly study in 2003 of 421 IT projects revealed the following: 16% of all projects successfully completed (that is they were delivered in scope on-time and on-budget). 75% of all projects were "challenged" in the following ways: 35% behind schedule; 59% over budget; 54% under-delivered on planned scope.