ABSTRACT
Information systems software projects must be considered as risky undertakings. The very nature of software contributes to this riskiness in that it consists of intellectual concepts without physical substance. For example, Brooks
describes software, the output of the project, as “pure thoughtstuff, infinitely malleable” and “invisible and unvisualizable.” The effects of these risky characteristics are manifest in the frequent reports of IS projects that are late and over budget. Furthermore, many systems do not meet the needs of the business when they are delivered and have a low user satisfaction rating. This set of truisms seems to surround information systems projects. A Standish Group study found that over 50 percent of IS projects were late or over budget.
