Press Release: PM Summit survey: Failed projects cost Irish companies €580,000


Dublin, 25/28 June 2018 – PM Summit, Ireland’s most diverse conference for project, programme and portfolio management professionals, today announces the results of a new survey which reveals that failed projects cost Irish companies on average €580,000. 

The research, which involved 407 project management professionals in Ireland from a broad range of sectors and was carried out with the assistance of Pan Research, also found that almost a fifth (19%) of the recent projects that Irish organisations have undertaken have failed. 

Too many scope changes, communication and organisational problems, and poorly defined objectives were cited as the most common causes of failure while the most costly reasons were lack of involvement of all team members in project decisions and poor resource planning.

It therefore comes as no surprise that two out of every three companies (68%) are planning to spend more on project management training and education. In fact, organisations are spending on average 16% more in this area this year compared to last.