Software quality can be characterized as meeting customer requirements at the agreed cost within the established time frame. Currently, the sad state of software quality indicates new software development approaches might be warranted. One of the most dramatic examples of software project failures is the London Stock Exchange (called Taurus) developed eleven years late and 13,200% over budget. According to the Standish Group, known for its high quality, independent primary research, analysis, and advice, only 16% of software development projects are successful whereas 31% are canceled due to defects. Average cost for "failed" projects is 189% of the original estimate, almost double what was budgeted. Average time for software development projects is even more than double the original estimate. Finally, an average project delivers only 61% of the specified functions and requirements (Corr,2002). If such statistics were applied to manufacturing, process throughputs times and the quality of final outputs would be unacceptable. Due to the difficulty of monitoring progress and defining the problem as well as the solutions, the degree of precision required, and the rapid pace of technological advances, many software developers accept that projects will be delivered late and over budget.
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Cook, Jack, "Pursuing lean objective-oriented software development" (2003). Accessed from
RIT – Main Campus