The Standish Group, drawing from a database of 50,000 development projects, has found that for development projects that exceed $100 million in labor costs, only 2% are successful, meaning on-time and within budget. 

Another 51% are considered challenged or over budget, behind schedule or didn’t meet user expectations. 

The rest, 47%, are seen as outright failures, said Johnson.

Pennsylvania sues IBM over troubled $110M IT upgrade | Computerworld