GAO: Cost estimates are typically faulty on major IT projects

July 27, 2012

Managers are routinely using faulty cost estimates when making key decisions affecting major information technology projects, a new audit has found.

Fifteen of the 16 IT projects reviewed, valued at a combined $52 billion, are using unreliable cost estimates, according to a July report by the Government Accountability Office.

Most of the cost estimates “did not provide a sound basis for informed program and budget decisions,” GAO said.

Fifteen of those programs failed to apply best practices when developing cost estimates, the report found.

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