Many a project team member or sponsor has been heard saying that “we cannot terminate the project now as we have already spent 50% of the project budget.”

Introduction to Project Management

Many a project team member or sponsor has been heard saying that “we cannot terminate the project now as we have already spent 50% of the project budget.” Comment on the truth or fallacy of that statement.

Cite a minimum of two current (published in the most recent five-year period), credible references.

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The provided statement is a fallacy because the closure of the project depends on other factors rather than the sunk cost. It stands for faulty logic for not terminating the project. The primary consideration for closing the project should be whether it continues to uphold the business strategy. Generally, the cost incurred up to the period of auditing is regarded as a sunk cost (Meredith, Mantel & Shafer, 2017).  Further, the decision by the project manager to terminate any project should be grounded on predicted future project benefits and costs. It should be noted that in the event that business priorities have been swapped in a way that the project.The provided statement is a fallacy because the closure of the project depends on other factors rather than the sunk cost. It stands for faulty logic for not terminating the project. The primary consideration for closing the project should be whether it continues to uphold the business strategy. Generally, the cost incurred up to the period of auditing is regarded as a sunk cost (Meredith, Mantel & Shafer, 2017).  Further, the decision by the project manager to terminate any project should be grounded on predicted future project benefits and costs. It should be noted that in the event that business priorities have been swapped in a way that the project……………….

APA 354 words