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PMI-RMP - Risk Attitudes and Biases - Sunk Cost Fallacy
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During a project review, you notice team members often justify additional spending on problematic features by referencing past investments. What is the most effective response to address this decision-making pattern?
a.
Consider the total investment amount when making future funding decisions
b.
Calculate the accumulated project expenses to determine the next investment level
c.
Evaluate future costs and benefits based on current market conditions
d.
Analyze historical spending patterns to maintain consistent investment strategies
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