The CHAOS Manifesto 2012 is a compilation of views on statistics from global projects specifically focused on the United States and Europe. The report is based on four Standish services: the CHAOS Knowledge Center, DARTS (Demand Assessment Requirements Tracking Survey), Executive Sponsor Workshops and Executive Interviews. Although the manifesto focuses mainly on statistics, the 2012 report talks about the different success factors of an executive sponsor, with leadership playing a crucial role in deciding the success or failure of a project. The CHAOS Knowledge Center collects monthly surveys consisting of 20-25 survey questions, the DARTS is an online research instrument. The report is also based on 18 years of CHAOS project research, profiles of more than 80,000 completed projects and more than 500 workshops conducted by Standish CHAOS University groups. Apart from this, it includes data from various “group therapy” sessions and project management-based executive retreats. The report begins by giving the latest statistics on project successes and failures. The report states that the success of a report depends on a few factors like whether the project was completed on time, whether it was within budget and finally whether the client met all its requirements. Any project that does not meet the above conditions is defined as contested. The report also talks about when a project is considered a failure, that is, when a project has not been delivered or is never used. The success percentage shows that there was a success rate of 37%, 47% of the projects were challenged and 215 were considered failures. Now the report has also illustrated the success and failure rates of projects from previous years and we can see that middle of paper......y it. The report talks about the importance of an executive sponsor who can lead a team. What we need to take away now is how important a factor software engineering is and how each element associated with it plays a crucial role in determining the outcome of a project. For example, as mentioned earlier in the “Understanding the Project Life Cycle” report, this is a crucial part of the project because a wrong assumption during project execution can lead to the project going over budget , its delay or even worse, its failure. Considering the relevance of the report to our course, I think the paper is a very great asset for both industry and students to understand what is wrong and how can we fix it. This report is about to do just that. Works Cited http://versionone.com/assets/img/files/CHAOSManifesto2012.pdf