I am looking for war stories about why software projects you were personally involved with failed. The more disasterous, costly, or instructive, the better.
Good responses should include the size of the project (size of team, length of time, etc) and an answer more specific than 'insufficient planning'.
Bonus points for a well-thought out idea on what could have been done differently to save the project.
EDIT: Some people have asked me to define "failure", which is admittedly very open-ended.
While it is conventional to define it as an inability to meet deadlines and budget goals, that's actually short-sighted in my opinion.
To me, a project fails when the stakeholders end up dissatisfied. For instance, sometimes it may be possible to blow your timeline and still provide an amazing business success. Conversely, you can meet your budget and timeline goals but deliver the wrong product because the stakeholders weren't involved enough, or you misunderstood their priorities, or you didn't create a good enough spec, or you made a technology choice that didn't work out and was bad enough to be visible to the stakeholders, etc.
Deadlines and budgets do matter and are often vital, but I'm saying is that the artificial seperation of IT concerns and business concerns is destructive and rediculous. As people who are ultimately servering the strategy of the business, we should be tuned into the larger picture instead of trying to abstract that big picture out to a handful of narrow metrics.
Anyway, enough of my idealism. :) I'm more interested here in the spectacular failures than the ones we might be inclined to debate about. If you've seen one, you know what I'm talking about!