In 2008, only 6% of teams successfully delivered projects on-time and on-budget 80% of the time or greater. Now, the 2011 State of Requirements Management Report shows that 17% of projects had a success rate of 80% or better. A few years have passed and the good news is that collectively we’re doing better, but failure rates still remain too high; this presents an opportunity for growth in future projects.
As this post on The 99 Percent explains, “Ultimately, it’s the ones who barrel through discomfort, are resilient in the face of failure, and [are willing to take risks] who reach the highest levels of performance.” When a project doesn’t deliver, take time with your team to be retrospective and understand why so that you continuously improve upon your process. Hopefully, in our next report, we’ll see projects with success rates through the roof.
In December 2010, Jama Software partnered with Ravenflow to conduct an industry-wide survey including over 800 participants about the challenges, trends & successes in requirements management today. For more information about today’s world of RM, download a copy of the 2011 Report.