An Investigation of the Causes of IT Project Failure at Retail Banks in South Africa

Abstract

Causes of IT project failure have been an area of interest in the research field for many years. Studies continue to be conducted as technology improves and more organisations inject cash in building efficient processes. In particular, banks invest in technology to centralise a customer and provide better services. Over the years, IT project failures have been noted as being significantly high. The aim of the study was to evaluate the causes of IT project failure at retail banks in South Africa. A questionnaire was administered through electronic means to a sample of 60 respondents consisting of a combination of Project Managers and Programme Managers from two of the Four Big Banks in South Africa. A quantitative methodology was employed to conduct the study. The study revealed that IT project failure at the retail banks in South Africa is not as prevalent as it is in other parts of the world. There is an estimated IT project failure rate of 18.50% among the banks studied. The study was limited by economic and time constraints, and further studies are recommended.