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Analyze This Project
Elizabeth and Richard Larson
(June 16, 2005)
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An understanding of business requirements can reduce or eliminate challenged projects, capture vital functionality and produce happier clients. But it’s not easy. Multiple, complementary methods can help accelerate the discovery process and contribute to more complete requirements at the same time.
Gathering and managing client requirements is one of the most difficult and critical aspects for any project. For a project to be successful, the needs and goals for the product being built must be understood and translated into complete specifications from which the product can be built. You can build anything with quality and sophistication — software, a house, a car — but if the needs of the client aren’t met, the product will either be reworked or scrapped, and the project called a failure.
· Two thirds of all projects studied were either failures or what they call "challenged"
· Only half of the desired features made it into the finished product
· Cost overruns happened on nearly half of all projects, although the good news here is that cost containment has been substantially reduced over the 189 percent reported in the 1994 study
· Time overruns occurred 82 percent of the time, or on nearly every single project.
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