A Project Team Has Worked for Six Months on a Solar

question 2

Multiple Choice

A project team has worked for six months on a solar power project that will involve an entirely new technology. Early in the project, they chose a very specific approach from among several available, and they have continued pursuing this approach in spite of repeated failures. The project sponsor has warned them the project will be cancelled if they do not achieve success within one month. The team decides to stick with the current approach and work harder rather than experimenting with an alternative technology option. Which phenomenon best describes what has influenced the team's decision?

• A) Murphy's Law
• B) Parkinson's Law
• C) Student Syndrome
• D) Scope Creep
• E) Escalation of Commitment
• F) Pareto's Law

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Definitions:

403b Plan

A retirement savings plan available to certain employees of public schools and nonprofits, allowing them to save a portion of their salary in a tax-deferred account.

Bequest

The act of giving assets to beneficiaries through a will or estate plan.

Planning Horizon

The period over which forecasts or plans are made and future cash flows are projected, influencing decision-making processes.

Infinite

Without any limit or end; in mathematics, a concept describing something that has no boundaries in size or number.