Project Termination is a situation when a given project is supposed to be closed or finalized because there’s no more need or sense for further continuation. It is managed under a respective procedure that requires the management team to examine the current state of the project work, review prowess of goals and objectives, evaluate the project against success criteria, and check status or deliverables.
The decision to terminate a project early, by whatever method, is difficult. When the following question is negative then the project should be terminated.
- Is the project still consistent with organizational goals?
- Is it practical? Useful?
- Is management sufficiently enthusiastic about the project to support its, implementation?
- Is the scope of the project consistent with the organizational financial strength?
- Does the project have the support of all the departments?
- Is the project team still innovative?
- Has the project lost its key person or champion?
- Is the project team enthusiastic about success?
Reasons for Project Termination
- Technical reasons,
- Lack of project planning,
- Insufficient human resources or material,
- Extremely Low Profit,
- Natural disaster (e.g. earthquake, flooding, etc.),
- Lack of management support,
- Lack of customer support etc.