Arvind Kumar from PMI's Chicagoland chapter posted on project failure causes: Why Do Projects Fail?
My thoughts: Kumar notes the need to assess projects based upon all three legs of the iron triangle, scope, schedule, and budget.
Kumar cites improper level of project management as a leading cause and recommends a deeper level of engagement for less-experienced PMs ("Every detail contains a seed that can mean the difference between success and failure"). As a new IT director, I can relate to this thinking. At the same time, this approach seems counter to the increasing use of agile approaches in project management and increasing the sense of team ownership of a project.
In terms of addressing the top cause cited by the author, incompetent project managers, I see ongoing project management education and PM community engagement as keys in improving the situation. There are opportunities for PMPs: PMI conferences (global and regional); the kind of training that's offered through projectmanagement.com or REPs; and, engaging in PMP instruction efforts. This level of commitment for PMPs should go well beyond the minimum requirements required for retaining certification - in fact, gaining the required PDUs should be an easy byproduct of the ongoing work that's needed to excel in project management.
For "Lack of management support.": I think of Neal Whitten and his focus upon the project manager's authority - and the fact that some PMs go through their career without being called on the carpet for exceeding their authority. Thus, I think the PM should maximize his/her authority to overcome the challenges here.
Kumar recommends a tool to improve project estimates: "Function points are units of measure for functional size as defined within the International Function Point Users' Group (IFPUG) Functional Size Measurement (FSM) Method. It is the major global functional sizing methodology."
I see Kumar's article as based purely on traditional or predictive project management. (The author reached out to me and shared this article that he wrote, Agile for Complex Projects. ) Given the 2017 release of the Agile Practice Guide and the increasing use and integration of agile approaches, I'd like to see a project failure analysis that takes agile more into account - I may take a shot at this.