The top 10 fact reasons about why are many of IT project fail

The top 10 fact reasons about why are many of IT project fail:

1. There is a lack of user input: The project commences, people begin working diligently, but when the project is completed, the people wanted a horse and we built a camel. 
2. Incomplete requirements and specifications: We build a terrific solution and after we submit it for user testing, we are being told that it doesn't do half of the things they need and we were never told any of these requirements. Rebuild takes at least four months, and we miss project timeline and budget.
3. Changing requirements and specifications: Every two weeks during the project, a sales manager might would appear and ask for a new set of features to match something he read in a book yesterday. Ten scope changes and $500,000 later, the project misses badly and everyone in IT is blamed because he didn't make his sales numbers.
4. Lack of executive support: The project doesn't get the people or money it needs to proceed successfully because the project isn't seen as important by senior executives in the company.
5. Technology incompetence: To save a few dollars, parts of the project were outsourced to people who didn't understand the technologies we were using. When the first review of their components came in, the entire component had to be rebuilt from scratch.
6. Lack of resources: The project was very important, but cash and people were tight, so IT was told to fit it in around their regular schedules. In the end, the project collapsed for lack of focus.
7. Unrealistic expectations: The new sales application was designed to gather important information to save the company. But having a great sales tool wasn't going to do any good if the salespeople refused to use it and thus didn't provide the company the information they needed to stay ahead of the competition.
8. Unclear objectives: The new network upgrade worked perfectly, and all of the infrastructure was in place, but because the company was hoping to save money, not improve performance, they dismantled a perfectly working infrastructure and outsourced everything to an organization providing half the services to save a few dollars.
9. Unrealistic timeframes: The new customer-relationship management tool was critical to the long-term performance of the university, but only six months were allocated to get everything installed and working and get all the people switched over to the new system. Ninety percent of the potential benefits were lost due to the timeline.
10. New technology: The project depended on a small, private company with a new technology with lots of potential but no track record. Six months into the project, the company was out of business, the software was no longer supported, and there were undocumented bugs everywhere that no one could find.