Did you know that:

• 70% of all project failures are as a result of poor requirements.
• There is a 60% time and cost premium to be paid on projects with poor quality requirements.
• As the projects get more interdepartmental and complex, the failure rate rises.
• It costs 80 times as much to fix defects after delivery, than at the specification stage.
• 74 per cent of all companies have immature requirements practices.
• Large scale systems project fail with alarming regularity. A typical project over-ran its budget by 189% and over-ran its schedule by 222%.
• Average project has about 30% rework. This means that for every Kshs 1,000,000, Kshs 300,000 is spent redoing something that was thought to be complete.
• The average company with low requirements maturity wastes 34% of the organization?s IT development budget.
• 68% of companies simply did not use the necessary competency in requirements discovery at the start of their project to assure project success.

Source: IAG Business Analysis Benchmark, 2008 (za http://www.iag.biz/resources/library/business-analysis-benchmark.html)