I don't agree that on time and on budget are the correct measures for determining overall project success or failure. By these standards a multi-year project delivered a single day after the original estimate, or a massively profitable project that went a dollar over the original budget are counted as a failed project. Ideally some actual business outcomes need to be included before determining if a project succeeded or failed.
I think this problem persists for a lot of research and discourse about software project success and failure where we conflate whether we estimated accurately with whether or not the project succeeded or met the needs of the business.
I think this problem persists for a lot of research and discourse about software project success and failure where we conflate whether we estimated accurately with whether or not the project succeeded or met the needs of the business.