- Approximately 68% of companies surveyed were statistically unlikely to run a successful project, based on the findings in the survey.
- Companies with poor business analysis are three times as likely to see their projects fail.
- Bad project requirements can exact up to a 60% hike in budget and time.
- For a $3 million budgeted project using a set of poor requirements, companies will pay an average of $5.87 million.
- The typical organization tends to use up 41.5% of new project development dollars on unnecessary or poorly specified requirements.
- When non-IT business leaders set project requirements, projects come in at:
196.5 % of the target budget
245.3 % of the target time
And 110.1% of the target functionality originally set by requirements
- When IT leaders set project requirements, projects come in at:
162.9 % of the target budget
172 % of the target time
And 91.4 % of the target functionality originally set by requirements
- When a mixed team of IT and non-IT leaders set project requirements, projects come in at:
143.4 % of the target budget
159.3 % of the target time
And 103.7 % of the target functionality originally set by requirements
- Over 50 % of organizations do not have the basic business processes and procedures in place to establish effective business and software requirements for new projects.
- Project failure associated with poor requirements can be slashed on over 80 % of projects by auditing three areas within requirements documentation:
Uncovering interdependencies
Setting ambiguous goals
Documenting information required to support the process.
Project Management 
