Development Stories About Failure

Rarely do organizations share their stories of projects gone wrong. So I was intrigued by this New York Times blog post's mention of Admitting Failure, a website the collects stories about development failures (hat tip to my friend Ellen Lee for telling me about the NYT post). There are only a handful of stories so far, including a couple from Engineers Without Borders Canada and Water for People.

I find the idea behind this site rather refreshing. What do you think? What would it take for you or your organization to publicly admit failure?