Nine business leaders from the Young Entrepreneur Council provided insight into signs that might suggest the need to pull back on or halt a project, even one that's highly anticipated. The signs range from financial indications, like costs exceeding benefits, to team dynamics, such as members pointing out challenges or experiencing conflicts.
You're Not Seeing Results
Jennifer Barnes, Optima's CEO, delves deep into the intricacies of project assessment. In her recent feature, she articulates a critical perspective on project continuation:
"If you are not getting results and the cost is creeping up, then it is probably time to stop investing in the project. Make sure you are tracking your ROI and ensure that your end goal will yield positive results. Don't continue with a project that’s become a money pit just because you've already invested resources into it."
This insight not only pinpoints the challenges in steering a project but also serves as a guiding light for business leaders in navigating project evaluation.