Reasons for Project Failure

1. Incomplete or changing requirements

2. Limited user involvement 3. Lack of executive support 4. Lack of technical support 5. Poor project planning 6. Unclear objectives 7. Lack of required resources

Incomplete or changing requirements

Taurus
Transfer and Automatic Registration of Uncertificated Stock.

Taurus was first estimated to take 6-18 months and ultimately took 10 years, without success

The core problem was 280 financial institutions in putting requirements and the economist John Kay describes on his blog
It would take a full page of the Financial Times to list interests that needed to be placated and demanded to be represented

Limited user involvement

Lack of executive support

Eurofighter

The key point is that there is no single point of accountability. Decision making is supposed to take 40 days, in some cases it took 7 years. However, a similar issue with the high level decision making occurs with execution, a set of national contractors perform the work here and there is an emphasis on fair distribution of work rather than ensuring efficiency and integration.

Lack of technical support

London Stock Exchange Group Plc, operator of the world's fourth-largest market, broke down on the day European equities posted their biggest gain in five months, hurting clients who trade an average $17.5 billion a day. Trading resumed at 4 p.m. after an earlier computer failure left clients unable to buy or sell shares for about seven hours

Poor project planning

Unclear objectives

Lack of required resources