Software development efforts are characterized by; project failures, runaway projects and integration and communication problems. Analyzing why some projects finish on target while others lose track of their original objectives, constraints and milestones, can only be viewed as a long term investment. The study of failures is a sensible approach for utilizing past experience and advancing to the next level of maturity. This paper introduces the discipline of Forensic Engineering and frames it within the ECBS environment. The value of failure analysis is discussed from a number of viewpoints. This paper calls for a new attitude towards failure, where in order to maximize potential learning, acceptance of failure is the new order of the day.