Published by:
Harvard Business Publishing
Length: 7 pages
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Abstract
Managers often take projects well past the point at which they should drop them. To see if they have come to this point, managers must look closely at themselves and recognize which of the influences they may be under. Some influences are psychological - they''ve been rewarded in the past for sticking to their guns, so why shouldn''t the same thing happen this time? Some are social - no one likes a loser. And some are structural - important members of the organization are publicly committed to the project. The rest of the job belongs to top management. Its course is to rethink what behavior it rewards and how it staffs projects and to ensure that its information systems report the real odds.
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Abstract
Managers often take projects well past the point at which they should drop them. To see if they have come to this point, managers must look closely at themselves and recognize which of the influences they may be under. Some influences are psychological - they''ve been rewarded in the past for sticking to their guns, so why shouldn''t the same thing happen this time? Some are social - no one likes a loser. And some are structural - important members of the organization are publicly committed to the project. The rest of the job belongs to top management. Its course is to rethink what behavior it rewards and how it staffs projects and to ensure that its information systems report the real odds.