Validating a model for forecasting the project termination phase using existing business cases |
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| Authors: | Nithin Saravana Marthandam Javier Calvo-Amodio Chinmay Narwankar Luis A Barroso |
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| Institution: | 1. Oregon State University, School of Mechanical, Industrial, and Manufacturing Engineering, Corvallis, Oregon;2. Universidad de las Americas Puebla, School of Business and Economy, San Andres Cholula, Puebla, Mexico |
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| 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. |
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