Freddie Mac needed a new loan system. The current system uses COBOL code written $30$ years ago. The system was rigid, meaning it could not be easily adapted to new loan types or new customer demands. The IT department planned to replace it over $3$ years at a cost of $$600,000.$ After $3$ years, development was bogged down with changes and disputes over how to proceed. The project managers thought completing the project would take another $3$ years and $$1,000,000.$ What advice would you give management at this point?

Responses

Evaluate whether it makes sense to follow through on the original plan or pursue another solution.

Evaluate whether it makes sense to follow through on the original plan or pursue another solution.

Announce an innovation challenge. Plans must not prevent creativity in the organization.

Announce an innovation challenge. Plans must not prevent creativity in the organization.

Review the plan to identify what errors were made.

Review the plan to identify what errors were made.