1) Market Failure
The commercial market is brilliant at calculating profits, but it is "blind" to basic needs that are not profitable. It sends resources straight to those who have buying power, and leaves the weakest and most marginalized groups out of the equation, which widens the gap of social inequality.
2) Government Failure
Central planning is cooked up in closed rooms, far from the complexities of reality. Then these plans come down to be applied, and they get swallowed by the holes of bureaucracy and corruption. The government becomes completely unable to govern the market, deliver services, or protect vulnerable groups.
3) Community Failure
Civil society (if it exists) has been worn out by conflicts and is dominated by local elites who monopolize speaking in its name. The result is a lack of accountability tools, and a weak ability to come together and build good governance that imposes the terms of local development on the market.
When these failures collide, the "Triple Failure Dilemma" takes shape, swallowing any development project and turning it into an empty shell.