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We cannot afford to terminate the project now. We have already spent more than 50% of the project budget."
How do you react to this statement? Do you agree or disagree? Give reasons for your answer.
Will you never terminate the project when more than 50% of the budget has been invested into the project?
Under what circumstances would you agree to terminate the project and take the loss of 50% of the project budget?
Does the number 50% have any relevance to your decision? What factors would you take into account in making your decision?
If possible, give examples from real projects.
Write your detailed comments on the statement in the light of these questions and what you have learned in this topic.
Verified Expert
Considering rare situations that arise in project management that requires challenging decisions, typical analytical procedure to be followed for decision taking is the subject of the present discussion. The illustration is provided in light of two examples.Issues to be considered are evaluated for decision making.
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