Doesn't that mean the project is open ended?
- Yes. But, in effect, each phase, or stage, is treated as a (mini or sub) project in its own right
- That means that top management has a product at the end of each period
- Upon which they can base an informed decision
- As to whether or not to invest further
- And if so in what direction
Such an approach has proved much more successful for the project's sponsors
- And does not violate project management principles