The New Zealand Herald reported that 70 per cent of companies experienced at least one major project failure in the past year. This is based on a survey by tax and business advisory firm KPMG.
That figure was up on the previous New Zealand Project Management Survey, conducted in 2005, when 49 per cent of organisations reported a failed venture.
Gina Barlow, KPMG's director of project advisory services, defined a project as a "one-off piece of work" separate from day-to-day business.
The survey found three main reasons for failed ventures - scope changes, competition for resources in the firm and unrealistic deadlines.
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