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What Are Some of the Reasons for the High Rate

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What are some of the reasons for the high rate of failure of technology projects? What are the measures that are taken to counter project failure?


Definitions:

Winning Bidders

The individuals or entities that offer the highest bid in an auction and are subsequently awarded the item or contract.

Winner's Curse

A situation in which the winner of an auction ultimately overpays or incurs a loss because of overly optimistic valuation of the asset bid on.

Optimistic Estimate

A projection or forecast that assumes the most favorable conditions and outcomes for a given situation.

Bid Shading

A strategy where a bidder offers a lower price than what they are actually willing to pay, often used in auctions to acquire items at a lower price.

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