The Software Crisis

References:Lecture Note

•The CHAOS study published in 1995 by The Standish Group found that although the U.S spent over $250 billion on IT projects, approximately…
–31% were cancelled before completion
–53% were completed but over budget, over schedule, and did not meet original specifications.
•For mid-size companies, average cost overruns were 182%, while average schedule overruns were 202%!