The Importance IT projects have a poor track record for meeting cost goals Average cost overrun from 1995 CHAOS study was 189% of the original estimates; improved to 45% in the 2001 study In 1995, cancelled i projects cost the U.S. over $81 billion 2021/2/212021/2/21 5 The Importance ◼ IT projects have a poor track record for meeting cost goals ◼ Average cost overrun from 1995 CHAOS study was 189% of the original estimates; improved to 45% in the 2001 study ◼ In 1995, cancelled IT projects cost the U.S. over $81 billion