New research has suggested that nearly half of firms have recently canned IT related projects before completion.

A survey of nearly 400 IT professionals on behalf of the Information Systems Audit and Control Association (ISACA) found that a change in business requirements and failure to deliver the anticipated business benefit were the most commonly cited reasons for IT projects being killed off.

Forty three per cent of respondents said an IT project had recently been cancelled before full implementation.

"At a typical enterprise 20 per cent of technology investments are not fully realised," said Lynn Lawton, international president of ISACA. "IT investments represent a potential for significant value and also for waste, both financially and in competitive opportunities."

Other reasons for ending IT projects included a change in priorities, budget over-runs and the realisation that the project did not support the business strategy.