Discuss: Formal Project Management Contributes to Project Failure

The motion for discussion is...
"Formal project management contributes to project failure! discuss"

Goal
To critically assess the claims surrounding the need, specification, assumptions and efficacy of the 'project management' approach.

Instructions
Two groups (red-against, blue-for) will present an analysis and then debate the merits of their different positions, involving the whole class in the closing stages.
The readings given for initial investigation are listed below. We strongly encourage the use of additional secondary sources and providing examples as evidence supporting arguments.

Readings
THE STANDISH GROUP (1999) CHAOS: A Recipe for Success.
FELD, C. S. & STODDARD, D. B. (2004) Getting IT Right. Harvard Business Review, 82, 72-79.