Project Management: Facts which will surprise you

Ever wonder why projects fail, how much it costs the company and what the role of the project manager in this is? We were and found these surprising statistics!

* 1 in 6 projects exceed the costs by 200%
* The US economy loses 50-150 billion dollars in failed IT projects
* Only 39% of projects are implemented on time without exceeding the budget
* 1 in 6 projects stretch the time table by 70%
* 75% of project managers don't believe in their project
* 63% of decisions to terminate a project are done by the project manager
* 33% of projects fail due to lack of senior management
* 97% of companies believe that PM has a significant impact on the business
* The time & costs are the biggest challenge in project implementation
* Most common software are file sharing and time tracking

For more details, click on the bold text. Are you surprised about this information or is it close to reality? Let us know in the comments below!