Our analysis of 95 European Railway Traffic Management System (ERTMS) projects reveals that only 13% of the ERTMS projects manage to be on time, and the likelihood that the project will be delayed more than 1.5 times the initial estimation is 60%. This alarming trend not only poses concerns for the railways but also places significant pressure on the IS community to address and help mitigate these escalating challenges of IT megaprojects. The paper provides an analytical contribution that paves the way for future research on IT megaprojects.