Defining Project Failure

Most people try to avoid failure at any cost. However, the real question is how do we define project failure? In most cases, you will hear people talk about the project going over budget, the project being late, or the project being buggy. These three reasons are probably the most popular failures that people talk about. These definitions come from the early days of software development where the Waterfall model was typically used. Our software processes have become more agile, but our definition of failure has not.