Six great myths of IT: “The Standish Group surveyed 13,522 projects last year and showed that unqualified project successes are well below 50 percent, 34 percent to be exact. Out-and-out failures, defined as projects abandoned midstream, are at 15 percent. Falling in between the two are completed but “challenged” projects. The report says challenged projects represent 51 percent of all IT projects and are defined as projects with cost overruns, time overruns, and projects not delivered with the right functionality to support the business.”