Over 70 percent of software engineering projects fail in some major way

In software engineering, 70% of all projects are not delivered as they were promised to the clients. This is because 42% of firms are not aware of the significance of project management. Going over budget has been cited by 55% of project managers as one main cause for failure in projects. In the other hand, it is envisaged that within the year 2030, the Project Management will be worth $34.5 trillion in 2030. The most important processes found to be effective stakeholder engagement, and out of those completed successfully, 62% had supportive sponsors which shows how important stakeholder support is for project success.