This study focuses on the reasons why students from private universities who have finished their studies, but not their research work, a requirement to obtain their degree. Several studies agree that the supervision process is a fundamental factor to complete the thesis successfully. Thesis development and successful thesis completion are conditioned by a number of factors, one of which is supervisor performance. This study explores the limitations on supervision, time, and money, which are resources students need in order to finish their theses, and suggestions for improvement. The sample of the study consisted of 129 graduate candidates from different careers at a private university in Peru. The findings show that lack of supervision during the thesis development process, lack of time to develop the thesis and finance have an impact on finishing a thesis. Supervisors must have cognitive competences in scientific methodology, statistics, and the research topic, and help the students to transition from course work to independent research.