British business is set to waste an estimated £37 billion on failed agile IT projects over the course of the next 12 months, according to a new report.
6point6 commissioned a survey of 300 CIOs in the UK and the US to examine their experiences of agile and measure how successfully the principles of agile are being applied and executed. Chris Porter, CTO and co-founder of 6point6 and one of the authors of the report said: “Agile IT in the UK is facing a hidden crisis – 12 percent of agile projects are failing completely. CIOs tell us they expect to undertake six agile projects next year, one-in-eight of which will fail completely. Given there are about 6,000 CIOs in the UK and that the average agile IT project costs approximately £8 million, that represents a huge amount of waste. The truth is that, despite the hype, agile development doesn’t always work.”
The research also uncovered that over half of CIOs regard agile development as ‘discredited’, while 75 percent are no longer prepared to defend it. 73 percent of CIOs think agile IT has now become an industry in its own right, while half say they now think of agile as ‘an IT fad’.