Write a memo to help new project managers joining the company, in regard to “escalation of commitment.”

Responses will be graded according to three criteria:

Accuracy (have you accurately characterized the keywords discussed in your answer)
Breadth (did you sample a broad range of the content relevant to the question)
Relevance (did you refrain from focusing on content that is tangential or less critical to the focus of the question).
Therefore, you should focus on accurately and adequately answering each question but avoid unnecessary length. Use proper paragraphing to ensure your ideas are properly communicated.

Question 1:

Assume your CEO asked you, an experienced project manager, to write a memo to help new project managers joining the company, in regard to “escalation of commitment.” Your memo should include – at minimum – five recommendations about what factors he/she needs to be aware of in order to avoid making poor decisions as they relate to persisting with a project. Your memo must consider factors that lead to people persisting in failed projects as well as factors that lead people to give up prematurely.

If you would like, feel free to use materials on escalation of commitment (i.e., Staw & Ross (1987);Preview the document Drummond (2014)Preview the document. Begin by listing the five bolded recommendations that your answer will revolve around. Write them as a numerical list (e.g., 1., 2., 3.), though the order of your list is not important. Note that, although you can mention other concepts in your answer, most of the content in your answer should revolve around the three bolded keywords written in your list. After creating your list, go on to craft your actual answer. (50 points)

Question 2:

Assume your boss came to you and revealed that the tough economic conditions are going to require some big changes in the way your company does business. “We need to think outside the box,” your boss suggests, “and do something innovative that our competitors wouldn’t anticipate.” You volunteer to develop some ideas, but your boss tells you to create a committee to look at the problem. You think you’d be more effective alone, but your boss thinks the committee would provide more value. Who’s correct? Support your chosen answer using three concepts, theories, or relationships (as different from one another as possible)

Begin by listing the three bolded keywords that your answer will revolve around. Write them as a numerical list (e.g., 1., 2., 3.), though the order of your list is not important. Note that, although you can mention other concepts in your answer, most of the content in your answer should revolve around the three bolded keywords written in your list. After creating your list, go on to craft your actual answer.