When should you pull the plug on a digital transformation project?

(Image credit: Getty) Digital transformation is all the rage, with boardroom executives citing it as a priority. It’s particularly pertinent as they see their competitors ‘transform’ and fear being left behind. There’s a sense of urgency that isn’t always positive, though, with many projects a product of leaping on the bandwagon; digital transformation without giving thought to what they want to achieve and how best to do so. Many digital transformations come to an end when the core aims have been achieved. These may include instilling new skills, ways of working, or technological capabilities. But there are times when a project doesn’t go to plan and the best move is to cut it short. READ MORE (Image credit: Getty) Why is digital transformation important for business growth? Ending a failing digital transformation project prematurely isn’t an easy decision to make, as the sunk cost fallacy can be a huge issue, “but so is the fact the people at the top could feel like they’re also fighting for their jobs and influence”, notes Simon Cook, UK&I MD of Slalom Build. Canceling should always be an option, however, as it’s pointless to waste time, manpower, and money continuing a project that […]

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