Keep Going or Move On? How to Decide Your Project’s Fate
An old saying goes "Better an end with horror than horror without an end". But when is the final moment to kill a project?
Recently, an article appeared in our local newspaper reporting the closure of a restaurant just a few months after it opened. The reasons given by the operator were that despite the positive feedback from the guests, the restaurant operation will not be profitable in the foreseeable future. This is due to the general price increase and the associated cost explosion.
Surely this is only one case among many. A project is terminated here because the operator sees no future in the current situation. But when is it time to consider a project a failure and end it? Is it enough that the budget has been used up? Should it only be abandoned when the project goal cannot be achieved?
Read more...Milestones
Milestones represent important control and decision points in a project in project management. They define and delimit project phases from each other. The correct use of milestones supports the success of your project!
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