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.

Question

Quizplus · Accepted Answer

Escalation of commitment is a psychological phenomenon where individuals or organizations continue to invest resources (time, money, and personnel) into a failing project, despite mounting evidence that it is unlikely to succeed. This is often driven by the desire to avoid admitting failure or to recoup previous losses. The result is often a black hole of resources, with little hope of the project turning around. The other options, vanishing horizon, Pareto principle, and negative outcome disposition, do not accurately describe this phenomenon.

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