I wanted to note some interesting articles that I found useful in my work with IT over the past few years, including Risk Management and Escalation of Commitment. These articles deal with Project Risk Management. Admittedly, I focus on RM for IT projects, so this is heavily skewed towards development and implementation projects that are computer-related.
The Abilene Paradox of Escalation of Commitment: How We Can All Agree To Go Over the Cliff
When a project starts heading south, you would think that the rats would start abandoning the ship and the sponsor would quickly pull the plug to minimize losses. But that’s not what happens. Sponsors’ commitment to projects going bad actually seems to grow. The literature is littered with examples of sponsors continuing to spend money on a project that is …
De-escalation of Commitment to Projects
There is a large body of work dealing with the escalation of commitment in IT projects, how managers continue to throw good money after bad, increasing their commitment to a project that has little chance of succeeding. For example, Gustavo Dimello has an interesting summary (“To Pull or Not To Pull the Plug: When Managers Commit Themselves to Failure”) of …