So with that in mind it seems sensible to examine a process for disengaging from strategies and interventions which appear not to be working. (McGrath, 2011) has identified a disciplined process for getting out of projects and which includes
these steps
- Decide in advance on periodic checkpoints for determining whether to continue or not
- Evaluate the project’s upside against the current estimated costs of continuing. If it no longer appears that the project will deliver the returns anticipated at the outset, it may be time to stop
- Compare the project with other candidate projects that need resources. If this one looks less attractive than they do, it may be time to stop?
- Assess whether the project teams may be falling prey to escalations pressures (all we be ok as long as we make the project bigger)
- Involve an objective, informed outsider in the decisions about whether to continue, instead of leaving it up to the project team members
- If the decision is made to stop, spell out the reasons clearly
- Think though how capabilities and assets developed during the course of the projects might be recouped
- Identify all who will be affected by the project’s terminations; draw up a plan to address disappointments or 'damage' they might suffer
- Use a symbolic event – a wake, a play, a memorial – to give people closure
- Make sure that that the people involved get a new, equally interesting opportunity p83
Reference
McGrath, R.
(2011). Failing by Design. Harvard
Business Review (April, 2011), 77-83.