Early Project Termination for Cause and Convenience (Essay Sample)
After reading chapter-15 from the attached textbook answer the below question. Answer should be in own words and strictly no plagiarism. Total 3 pages assignment.
Give two examples of why a project might be terminated early for cause and two examples of why a project might be terminated early for convenience.
the sample is a direct answer
Project Termination
Name
Institution
Date
Project Termination
Early project termination takes place when critical stakeholders of the project decide to end the project early before it is officially complete, as set out in the project plan. Early termination can occur when one or more parties fail to carry out their contractual obligations or for convenience when stakeholders decide to end the project willingly.
Termination for Cause
A project can be terminated early for cause when a key stakeholder fails to perform their contractual obligations. In the course of project implementation, each stakeholder has a defined role that they are supposed to carry out if the project is to be successfully implemented. However, one or more stakeholders may fail to carry out their contractual obligations, which can cause other parties to lose confidence in the project and its successful completion (Kloppenborg, et al., 2019). The project is, as a result, terminated early. For example, when a contractor responsible for implementing certain project activities fails to carry them out as per expectations, the project may be terminated early by other stakeholders who may have lost confidence in the project's ability to be completed successfully.
Substantial changes in project constraints may also result in the early termination of a project for a cause. For example, when the cost and time associated with a specific project change significantly and make it impossible for critical stakeholders to execute the project successfully, the project may be terminated early for cause as crucial stakeholders may not believe that it can be successfully implemented.
A project can also be terminated early through mutual agreement by the parties undertaking the project. In the course of project implementation, not all key deliverables relating to the project may be met, even though all resources available for the project have been spent. Key stakeholders may, as a result, decide to terminate the project early and transfer some of the deliverables that are supposed to be met to other projects. Changes in the performance of the project may also convince
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