Cut losses

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One of the most difficult decisions for any leader is to decide when to “cut losses” and abandon an effort. An effective project framework should include a decision point at the end of each phase allowing the project sponsor the opportunity to decide whether or not to continue the project. This is especially important when a project faces significant cost overruns. Please share your thoughts on how a project sponsor should arrive at a decision to abandon a project that is facing serious cost overruns. When is “too much” too much? At what point does one decide to just give up and stop a project? Must some projects continue NO MATTER WHAT the cost?

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