Yes I agree that most projects fail for many reasons, that's why I'm pushing for our project managers (team leaders basically) to follow an agile developement methodolgy. And I reiterated the importance of that in a resent pod cast some of us did for the group.
I don't think I explained the idea very well though. If you wanted to develop a game that would take a year, yes odds are it won't succeed. Thats why the site and the group is designed to split your projects into iterations. Acutally I've been typing all day, and I need to go to lunch, so if it's not clear, listen to the pod case, or read the About section on the site.
Summary: we have 30 member so far, about 19 are activily working on projects right now, but I'm pushing for Irrlicht projects. Remember a "project" is simple reusable code that takes no longer the 2 months to produce. Think of it as building blocks to a bigger building.