What Does the Term "Escalation of Commitment" Mean

question 68

Short Answer

What does the term "escalation of commitment" mean?
As a project proceeds toward successful completion, managers make an increased commitment to doing a good job
The actions that managers take as they try to get the outcomes they desire
As a project proceeds, managers become increasingly committed to it even if there is evidence that it is not working out as planned
It refers to how much a manager is willing to gamble when making decisions
None of these

---

Definitions:

Unanticipated Costs

Expenses that were not planned or predicted in the budgeting process, often leading to budget overruns.

Remodeling

The process of making improvements or alterations to a building's structure or design, often to update or increase its value.

Excavation Costs

Expenses associated with the removal of earth to make way for construction or mining operations.

Wasting Assets

Wasting assets are assets that have a limited lifespan and thus decrease in value over time, such as natural resources.