Software development project failure plagues the IS industry. More than half of all IS projects are completed beyond budget, nearly a third fail to implement the desired functions, and only 16% are finished on time and within budget (Cafasso, 1994). Many of these may be described as runaway projects. Runaway projects are those that exhibit significant cost and schedule overruns (Keil & Robey, 1997).
Mahaney, Robert, "Escalating Commitment to Runaway Information Systems Projects" (1998). AMCIS 1998 Proceedings. 417.