The article presents information on software project risks and their effect on outcomes. While many software projects deliver the functionality and performance promised by their developers on time and within budget, some result in systems that fail to deliver as promised. The Standish Group, an IT consulting firm, reports $275 billion is spent on software development projects each year in the U.S. alone. More than seventy percent of these projects functions than promised. Examples of software projects failures have been described in several books devoted to the subject and reports of troubled projects appear regularly in the business media. Failing to understand and manage the related risks can lead to project failure, a costly problem that hasn't been completely addressed in almost thirty years since such outcomes were first described in the literature. Software project managers would thus benefit from a better understanding of how software project risks affect project outcomes, leading to fewer projects failures.
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