SelectHub and our CEO, Venkat Devraj, was featured in “Project Management: ‘What We Have Here Is A Failure To…’” in IT-TNA.
Here’s an except:
It’s the dirty little secret of IT, not just outright failures, but projects that are delayed, said Venkat Devraj, CEO of SelectHub, in a recent interview with IT Trends & Analysis. Enterprises spend over $300 billion annually on software purchases including SaaS, third-party and internally hosted solutions but failure rates for these software projects can be as high as 68%, he said. To put that into numbers, using Forrester Research data, SelectHub said of the $542 billion to be spent on software this year, $368 billion will likely be wasted.
A less alarmist – but still troubling – view from a Project Management Institute (PMI) study found that organizations risk $135 million for every billion dollars they spend on projects. Ineffective communications is driving 56% ($75 million) of these at-risk dollars.
Read the whole thing on IT-TNA.