We live in an economically strapped world where it is essential for an organization to have a portfolio of successful projects. Yet, General Motor’s inability to make decisions about its portfolio – what cars and trucks to develop and manufacture - may lead to its bankruptcy in 2009. Things aren’t much better in the IT industry where only 35% of the projects are successful (2006 Chaos Report from the Standish Group) with 40 - 46% late or over budget (Chaos and SAP). Furthermore, 80% of new technologies are not used as intended or abandoned within six months of implementation (Ernst & Young). Reality is probably worse than these values for IT projects, as they are based on self-reported numbers.
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