A project may be salvageable with modifications. Some of the ways are listed below:
Never initiate the proposed project.
Orderly planned termination.
The “hatchet” – a rapid withdrawal of funds, removal of resources, or other resources permanently or until desired conditions are met.
Reassignment of people/resources to higher priority/more profitable projects.
Outsource costly functions to lower cost geographic areas (either regionally or globally).
Redirect efforts toward different objectives (i.e., closer realignment with core competencies), with proper approval.
Burying it or letting it die on the vine (i.e., not taking any official action allowing the resources to exhaust themselves).
Reduce the requirements that the end product must meet.
Deny that the problem situation exists and avoid deploying resources to address it.
Invest funding/resources to correctly complete the project.
Pressure key suppliers/business partners to share in some of the losses.
De/Re-scoping/reduce the project deliverables to a more appropriate level. Pick areas where there is still a possibility of success, (and support), and pursue them.
For instance:
Reduce the number of options. *Simplify the design.
Sell project/product to a niche group (if profitable).
Produce less of the final product.
Re-bid the contract(s).
Break existing project into many smaller projects.
Defer/delay/postpone/place project on hold until another time.
Await other favorable events, results of more testing to prove the soundness of the technology, decision making greater compliance, better market conditions, resolution of a legal matter, more systems/resources, additional upgrades are completed.
Rethink, possibly returning to the feasibility study phase or a phase earlier than the current phase/ assess any unusual/ unforeseen variables.
Refer the problem for independent review by either an expert or an informed committee to make go/no-go recommendations.
Withhold funds pending receipt of a better business plan.
As required, make a comprehensive review of the entire process (e.g., supply chain, assembly process, engineering, manufacturing, quality assurance)
Hire a contractor/partner with a firm/spin-off/acquire a firm with experience to complete the job at the scale and speed required.
Take legal action to terminate the project.
Buy a completely tested product or system instead of building one.
Assign project to a new project manager or bring in new management.
Declare that the project was only a “pilot” which was (is) established to determine the feasibility of proceeding further (at some specified/unspecified time in the future).
Spin-off the project to allow for more rapid development/market exploitation.
Recall the product.
Delay testing of the product.
Appoint a task force/ committee, preferably of experts, to make go/no-go recommendations.
