But, in spite of the increased project activity the survey reveals that while IT projects are delivering some value back to organizations benefits fail to be delivered back, and no one is being held accountable for those losses.

"Businesses are under pressure to keep costs down and deliver today. Management tends to concentrate on today's results and lets tomorrow's results slide," says Sinclair.

"Another problem that the survey reveals there is often a governance effort in the beginning of projects but when the project is up and running it is left without governance. Projects are not being followed through."

Sinclair is surprised that 59 percent of organizations have no management process to measure benefits. Only 13 percent globally, and one single organization in New Zealand, reported tracking benefits until they are realized and formally reported.

"The survey shows that organizations that get the greatest value back from IT projects have an integrated governance framework all the way through the project. The roles and responsibilities within the projects are clear, and there is a formal benefits [measuring] process."