Validating a model for forecasting the project termination phase using existing business cases. Issue 2 (3rd April 2019)

• Record Type: Journal Article
• Authors: Marthandam, Nithin Saravana; Ng, Ean H.; Calvo-Amodio, Javier; Narwankar, Chinmay; Barroso, Luis A.
• Is Part Of: Engineering economist. Volume 64:Issue 2(2019)
• Page Start: 142
• Page End: 166
• Publication Date: 2019-04-03
• Subjects: Engineering -- Estimates -- Periodicals; Industrial management -- Periodicals; 338.4762005
• DOI: 10.1080/0013791X.2018.1555299
• Languages: English
• ISSNs: 0013-791X

Abstract

Abstract: Studies on project failure and its subsequent termination phase are scarce; studies that use a quantitative approach are almost nonexistent. This is most likely because organizations usually do not collect data on project failures, are unable to share such data, or a combination of both. The contribution of this article is twofold: to (1) showcase a methodology to validate a model using actual business cases and (2) validate a project termination phase forecast model (PTPFM) using the methodology. The model is validated through four business cases, comparing the results from the model to the decisions made in reality.