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Study finds 268% higher failure rates for Agile software projects
(www.theregister.com)
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Also interesting, successful software projects don't just finish and die. They keep on going and adapt changes and implement new features. If we have a successful project that goes on for a decade but we have a clusterfuck of a project which blows up each year for the same time period, by this metric you'll have only a 10% success rate.
That's a very good point.
It applies to more things than software projects. Like new companies keep innovating until they succeed. Political organizations keep pressing for change until they get some small gain. People are eager to throw themselves at work until they get something they care about...