I’m working on a management discussion question and need a sample draft to help me learn.
One of the most difficult decisions for any leader is to decide when to “cut losses” and abandon an effort. An effective project framework should include a decision point at the end of each phase allowing the project sponsor the opportunity to decide whether or not to continue the project. This is especially important when a project faces significant cost overruns. Please share your thoughts on how a project sponsor should arrive at a decision to abandon a project that is facing serious cost overruns. When is “too much” too much? At what point does one decide to just give up and stop a project? Must some projects continue NO MATTER WHAT the cost?
To create a contract for your primary supplier of a primary good or service, what clauses do you use? Which hold primary importance to you? Which type of contract do you believe to be the best choice from the purchasing standpoint? Did you select a long- or short-term contract, and why?