The Virtues of Failing Fast
Chances are that we won't be changing how we account for projects; the usage of capital expenditures to fund projects will likely be with us for quite some time. The ability to cancel failing projects quicklyand learn from the failuresis the single best way to avoid having a $100M+ disaster.
Failing fast doesn't just save us money. The cold reality is that people don't like working on failing projects. When a project is failing, people generally can smell it in the air. Employee engagement goes down, turnover goes up, and things just generally get worse. The best thing to dofor your people, for your companyis to learn to fail, and create a culture that learns from failure.