Success rate of organizational initiatives: Timely project completion, on budget

Leadership is directly tied to an organization's bottom line. Research and anecdotal evidence support the premise that people in leadership positions must not only envision and catalyze change initiatives to enhance organizational effectiveness; they must also remain close enough to the initiative(s) that they see when they need to intervene, to re-frame the work or encourage the people.

Task Description
Based on articles you find on the success/fail rate of organizational initiatives, roughly what percent of initiatives would be considered 'successful' if success were based on meeting all three of the criteria below?

1. Was the project/program or initiative implemented on time? (On time is defined as being ready on the date it was promised to be completed.)
2. Was the project completed within its projected budget, adjusted for approved changes in scope?
3. Did the project deliver the benefits/results promised?

Remember to be considered successful, the project must meet all three criteria. Would you say:

_____Less than 25%?
_____25% to 50%?
_____50% to 75%?
_____More than 75%?

What is the success rate of organizational initiatives? According to Kotter, what is the relationship between this success rate and employee engagement? How does leadership affect these?