Agency theory offers a potential explanation for the low success rate of information technology (IT) projects.rnThe theory suggests that appropriate monitoring and the use of incentives and rewards increases the likelihoodrnof project success. A survey instrument was developed from previously used items and new items developedrnfrom structured interviews. Four hundred thirty project managers completed a Web-based survey. Afterrnanalysis for reliability and validity, the data were used to test eight hypotheses related to IT project success.rnThe study contributes to the understanding of IT project management by showing that contract type,rnmonitoring, goal conflict, shirking, and privately-held information are multi-dimensional constructs andrnprovides instruments for their measurement. It validates existing instruments for measuring taskrnprogrammability and project success. It suggests that more outcome-based contracts, more monitoring, lessrnshirking, and less misrepresentation of privately-held information lead to project success. Finally, it contradictsrnexpectations that more goal conflict and more task programmability lead to more outcome-based contracts andrnthat more outcome-based contracts lead to less monitoring.
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