Factors responsible for the failure of most development projects are multifaceted. This study focused on unearthing the causes and effects of public project failure from the perspective of project stakeholders. Sixty stakeholders working on different public projects in the Greater Accra Region of Ghana completed a questionnaire. This study found that major causes of project failure were related to corruption, payment delays, procurement processes, planning, monitoring, bureaucracy, communication, and supervision. The perceived effects of project failure included revenue loss, discouraged investment, and unemployment. Project failure increased the initial cost of projects, impacted economic growth, led to the provision of substandard infrastructure and service relocation. Other effects of project failure were loss of capacity for public projects and emotional stress experienced by project stakeholders. The government of Ghana should adopt strategies to overcome corruption, bureaucracy, and unnecessary political influence. Finally, the government should cooperate with relevant stakeholders to implement measures geared towards improving the current system for procurement, supervision, monitoring, planning, and management practices.