Halt a Project When These Six Factors Occur Over Time

Do you feel that you must finish what you started? That sentiment does not apply everywhere. There are several reasons why you should not continue a project. You halt a project when it no longer produces the expected results. Your team members might oppose this idea at times, but think of the long-term problems continuing this conflicted project can create. Are you ready to face the consequences? In this article at Online PM Courses, Mike Clayton gives six reasons to halt a project before it is too late.

Reasons to Halt a Project Mid-Way

No Value to the Company

Every project must add value to your company. You can halt a project if, using these formulae, you do not get a positive value:

Value = Benefit – Cost

Value = Benefit / Cost

Return on Investment (ROI) = (Benefit – Cost)/Cost

Not Commercially Viable

Is your company’s strategy changing? If the project is not viable anymore, you might have to pause it for an indefinite time. Low cash inflow, vendor disputes, contractor unavailability, better rival products, etc., are some other reasons that can influence management’s decision to halt a project.

Technically Challenging

If your team is devoting more time to resolving technical challenges than developing the product, your team needs training first. Otherwise, frequent test failures, poor assumptions, outdated technology, etc., can delay the project.

Project Management Limitations

You need resources, a proper manager, effective governance and controls, and defined requirements to produce deliverables. You cannot help but halt a project if no plan has materialized yet.

Politically Unimpressive

If stakeholders are at loggerheads with each other, you will never have a fruitful plan. You will not have approvals for budget, support, priorities, or resources on time.

External Factors

Sometimes you must halt a project for reasons beyond your control, such as natural disasters or national crises. When a war or political unrest disrupts the nation, your organization must shift its priorities elsewhere.

To view the original article in full, visit the following link: https://onlinepmcourses.com/failing-project-do-you-know-when-its-time-to-pause-your-project/

The post Halt a Project When These Six Factors Occur Over Time appeared first on AITS CAI’s Accelerating IT Success.

Related Articles

Back to top button
Generated by Feedzy