In our previous post we explained why the Discovery Phase is important and how much it affects projects' success. One thing we didn't mention though is that the Discovery Phase helps the team to evaluate the feasibility of a project in order to determine if it's worth pursuing in the first place.
Here are some crucial reasons why a Discovery Phase might lead us to abandon a project:
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One reason to consider abandoning a project during the Discovery Phase is if it doesn't align with the company's goals or values. If the project doesn't fit into the company's long-term plans, it's better to move on early and focus on projects that will help the company grow. Additionally, if the project goes against the company's values or mission, it could harm its reputation and lead to negative consequences.
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Another reason to abandon a project during the Discovery Phase is if it's not financially viable. During the Discovery Phase, the team should be conducting research to determine the potential Return On Investment (ROI) of the project. If the projected ROI isn't high enough, it's not worth pursuing the project. Focusing on projects that will generate a better ROI and help the company grow is better.
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Finally, if the team encounters significant roadblocks during the Discovery Phase that can't be overcome, it may be time to abandon the project. This could include issues such as technical limitations or market saturation. If the team can't find a way around these obstacles, it's better to cut their losses and focus on other projects.
In conclusion, deciding not to continue with the development of a new project during the Discovery Phase is a difficult decision, but sometimes it's the best one for the company. By staying objective and considering all factors, the team can make an informed decision about whether to continue or abandon the project. Ultimately, the goal is to focus on projects that align with the company's goals and values, have a high potential ROI, and can be completed successfully.
One of the core objectives of HelloWorld teams, throughout the Discovery Phase, is to help stakeholders evaluate products and projects so they can understand whether it's worth pursuing them.
Cheers!!
