Enterprise Resource Planning (ERP) systems are becoming popular among business organizations globally as well as locally. The main reason is that the corporate benefits gained through such implementations. However, in the event of such a project failing, the company has to incur a huge loss. Therefore, identifying the issues involved with the ERP implementation is of paramount importance. This paper aims to identify factors affecting the successful implementation of ERP projects, find out the level of practice of each factor in Sri Lankan organizations and recommend best practices to minimize the ERP project failures.