There are only two kinds of projects:
- Successful projects; and
- Failed projects
There are only two kinds of successful projects:
Type 1: those projects that enable a set of outcomes that are acceptable to stakeholders. The key outcome is that stakeholders deem the project to be successful and are prepared to say so.
Type 2: Those projects that are explicitly closed down before completion by agreement with stakeholders as soon as it is obvious they won’t a Type 1 project
All other projects are failed projects.
Mike Cohn recently wrote in his regular email about a “kill trigger” that should be set on each project at the start. This is an objective and measurable set of criteria that the stakeholders deem as the point at which they decide that the project is a Type 2 project and they shut it down. No “sunk-cost” fallacy, no emotional ties to a vanity project, just kill it.