Here are a few snippets from an article in found interesting on http://blogs.hbr.org :
12 key questions that can help you decide whether it should be shut down or helped through the messy middle:
- Are the initial reasons for the effort still valid, with no consequential external changes?
- Do the needs for which this a solution remain unmet, or are competing solutions still unproven or inadequate?
- Would the situation get worse if this effort stopped?
- Is it more cost-effective to continue than to pay the costs of restarting?
- Is the vision attracting more adherents?
- Are leaders still enthusiastic, committed, and focused on the effort?
- Are resources available for continuing investment and adjustments?
- Is skepticism and resistance declining?
- Is the working team motivated to keep going?
- Have critical deadlines and key milestones been met?
- Are there signs of progress, in that some problems have been solved, new activities are underway, and trends are positive?
Is there a concrete achievement — a successful demonstration, prototype, or proof of concept?
If the answers are mostly Yes, then don't give up. Figure out what redirection is needed, strategize your way over obstacles, reengage the team, answer the critics, and argue for more time and resources. Everything worth doing requires tenacity.
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