This thesis describes the success factors that are needed to execute IT projects efficiently and effectively in insurance companies. Due to the fact that IT project management has undergone a rapid progress, especially in the area of developing its concepts over the last centuries, a set of best practices exist to ensure a suc-cessful completion of IT projects. The major success factor concerning IT projects can be pointed out by the selection of appropriate IT project managers that require specific skills. The combination of theoretical and empirical aspects provides the basic principles for the research. The theoretical research includes books and pro-fessional journals, whereas the empirical approach contains surveys of experi-enced IT project managers. The results of this research depicts that two types of skills are inevitable for IT project managers. On one side the soft skills are re-quired to motivate the project team and take appropriate actions in conflict issues whereas the methodological skills are necessary to ensure a structured and sys-tematic run of the IT projects. The results of this study indicate that the critical suc-cess factors in IT projects mainly rely on the skills and competency of IT project managers.