Only 16% of US software projects are on time within budget

According to the Standish Group, businesses in the United States spend around $250 bln on software development on approximately 200 projects each year. Only 16% of these projects finish on schedule and within budget. Another 31% are cancelled, mainly due to quality problems, for losses of about $81 bln. Another 53% exceed their budgets by an average of 189%, for losses of about $59 bln. Projects reaching completion deliver an average of only 42% of the originally planned features.