Question

A failing project becomes a black hole for money, time, and personnel as management contiues to pour resources into it despite the growing expectation that it will fail miserably. This is known as ______________.

Answer 1

Answer:

escalation of commitment.

Explanation:

It is important to stick to a decision, but sometimes times it's a dangerous mindset that leads to accentuating the significance of a poorly made decision. Escalation of commitment arises when someone chooses to devote resources, namely time and money, to a failing plan of action. For example, a situation where individuals possess irrational behaviors, but they comply with prior decisions and actions.