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

question 47

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:

Average Time

The mean value of a set of time measurements, calculated as the sum of all times divided by the number of occurrences.

Queue

A sequence of items or people waiting in line to be processed or attended to, often ordered by the principle of first-in, first-out (FIFO).

Reorder Point

The inventory level at which a new order should be placed to replenish stock before it runs out, considering lead time and demand.

Inventory Level

Inventory level refers to the quantity of goods and materials on hand at a particular point in time within a business.