Project termination analysis in SMEs: making the right call Online publication date: Wed, 18-Mar-2009
by Konstantinos Kirytopoulos, Dimitra Voulgaridou, Dimitrios Panopoulos, Vrassidas Leopoulos
International Journal of Management and Decision Making (IJMDM), Vol. 10, No. 1/2, 2009
Abstract: Abandoning a project is difficult as it engages an enormous psychological load for project managers and team members and increases personal and professional insecurities. Organisations not only delay this kind of decisions, but also escalate their commitment into a failing project. Terminating a failing project with least of problems, releasing valuable resources and investing in higher potential projects are crucial for organisation's prosperity. The aim of this study is to support the decision making when project termination is of question, help project managers and executives understand the problem context and revise their belief about terminating projects. The paper proposes a framework, based on the analytic network process. The study reveals the criteria that have to be taken into consideration in project termination decisions and provides a structured approach in order to help managers make decisions. The paper includes a case study of a troubled ERP implementation project in a SME.
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