Impact of Risk-reduction Development
The Standish Group research shows a staggering 31.1% of (software) projects will be canceled before they ever get completed. Further results indicate 52.7% of projects will cost 189% of their original estimates... The three major reasons that a project will succeed are user involvement, executive management support, and a clear statement of requirements. “The Chaos Report” Standish Group 1995
Some examples of impact on profits and productivity of a focus on improving software development processes (IEEE Computer 1995)
- Lockheed cut development costs by 75%, reduced time-to-market by 40% and defects by 90% by implementing advanced design methods
- Raytheon tripled productivity and increased ROI 8 fold
- Similar results from Hughes, Loral, Motorola, Xerox