Is Your Product Sinking with the Sunk Cost Fallacy?

After months of effort and $$$, you’ve got barely any value to show. Sound familiar?

FRUSTRATION

Ah, the familiar refrain of ‘Just a few more sprints!’ We’ve all been there, clutching at the hope that our investment will finally pay off. But here’s the kicker - this is Sunk Cost Fallacy at work. Those dollars? Gone. The only question is whether to throw good money after bad. Sound familiar? Your stakeholders are likely saying, ‘Just a bit longer,’ but deep down, you know the truth.

The key to winning this battle is to shift the perspective. Ask yourself (and your stakeholders):

‘Knowing what we know now, would we start this project/feature again?’

Highlighting the Gap through the use of Cognitive Dissonance, makes the reality clear.

Kill the project or feature and free your team to work on that will deliver real value.