When should you move on from a difficult project?
The Challenge
Think about a project or situation that has been mired down by more obstacles than you anticipated. Are you making any progress in this endeavor, or are you and your team just spinning your wheels? Have you tried approaching the situation in a variety of different ways, or are you repeatedly trying the same strategy?
Why do this?
Persistence is necessary to success, but you must be smart about it. Knowing "when to hold ‘em and when to fold ‘em" is important to being an effective leader.
This act is part of your long-term effort to effectively evaluate and solve difficult problems.
What’s next?
If you can still think of alternative solutions that might reasonably address the situation, make a plan to try the one that seems most likely to succeed. If, however, you determine that the project has become a black hole for resources and time with few results to show for your team's efforts, consider what the consequences would be of calling it quits and moving on to a more lucrative endeavor.
