What Are Some of the Reasons for the High Rate

question 12

Essay

What are some of the reasons for the high rate of failure of technology projects? What are the measures that are taken to counter project failure?

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Definitions:

Maximin Strategy

A decision rule used in situations of uncertainty to maximize the minimum gain or to minimize the maximum loss.

Equilibrium

A state in a market or economy where supply equals demand, resulting in stable prices and quantities.

Maximin Strategy

A decision-making rule used in situations with uncertainty to maximize the minimum gain that can be achieved.

Prisoners' Dilemma

A scenario in game theory where two individuals act in their own self-interest but would have been better off cooperating.