A Failing Project Becomes a Black Hole for Money,time,and Personnel

question 11

Multiple Choice

A failing project becomes a black hole for money,time,and personnel as management continues to pour resources into it despite the growing expectation that it will fail miserably.This phenomenon is known in project management circles as:

• A)the vanishing horizon.
• B)the Pareto principle.
• C)escalation of commitment.
• D)negative outcome disposition.

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Definitions:

Substantially Lessens

A phrase often used in legal contexts, indicating a significant reduction or diminishment in value, quality, or functionality.

Reciprocity

A mutual exchange of privileges or services between parties where each benefits.

Building Supplies

Materials and components used in the construction and maintenance of buildings and structures.

Price Bartering

The negotiation process between buyer and seller to settle on a mutually agreeable price for goods or services.