Why do large IT projects tend to fail or have big cost/schedule overruns?

Posted by Pratik on Programmers See other posts from Programmers or by Pratik
Published on 2010-11-25T11:34:35Z Indexed on 2011/01/29 7:33 UTC
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I always read about large scale transformation or integration project that are total or almost total disaster. Even if they somehow manage to succeed the cost and schedule blow out is enormous. What is the real reason behind large projects being more prone to failure. Can agile be used in these sort of projects or traditional approach is still the best.

One example from Australia is the Queensland Payroll project where they changed test success criteria to deliver the project.
See some more failed projects in this SO question

Have you got any personal experience to share?

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