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From the author of The Virtues of Failing Fast

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 quickly—and learn from the failures—is 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 do—for your people, for your company—is to learn to fail, and create a culture that learns from failure.

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