Final answer:
Project failure is commonly attributed to a lack of planning, lack of resources, and an unwieldy scope. These factors can lead to ineffective use of time, stalled progress, and overly complex projects failing to meet objectives.
Step-by-step explanation:
Key factors in project failure include lack of planning, lack of resources, and an unwieldy scope. Without thorough planning, a project can veer off course, leading to ineffective utilisation of time and resources. Insufficient resources, such as finances, labor, equipment, or information, can halt project progress. Additionally, an overly ambitious or poorly defined scope can cause projects to become too complex, leading to missed deadlines and budget overruns. Each of these issues can exacerbate the others, creating a situation wherein a project becomes untenable and fails to meet its objectives.
For instance, lack of preparation and a messy procedural approach resemble the absence of coherent planning in a project. Moreover, projects that are initiated without sufficient resources, echoing the economic issue of resource immobility, are prone to stalling. Resources are essential for progress and if they are not available or are unable to be efficiently utilised, the project will suffer.