Escalation in Decision-Making: The Tragedy of Taurus - Hardcover

Drummond, Helga

Hardcover

ISBN 10: 0198289537 ISBN 13: 9780198289531

Publisher: OUP Oxford, 1996

Getting organizations going is one thing. Stopping them is another. This book examines how and why organizations become trapped in disastrous decisions. The focal point is Project Taurus, an IT venture commissioned by the London Stock Exchange and supported by numerous City Institutions. Taurus was intended to transform London's antiquated manual share settlement procedures into a state of the art electronic system that would be the envy of the world. The project collapsed after three year's intensive work and investments totalling almost GBP500 million. This book is an in depth study of escalation in decision making. The author has interviewed a number of people who played a key role and presents a most readable account of what actually happened. At the same time she sets the case in the broader literature of decision making.

Review:

Helga Drummond succeeds in convincing the reader that the escalation concept provides a fruitful way of studying information systems failure ... I strongly recommend Escalation in Decision-Making. (Frank Lund, European Journal of Information Systems)

This well researched and readable study examines how and why organizations become ensnared in disastrous decisions, based on a specific case study. Both fascinating and important. Other projects could well benefit from a similarly rigorous analysis ... Certainly a book that should be read by all those involved in BOOT (Build, Own, Operate and Transfer) Investments/projects ... (Long Range Planning, vol.30, June 1997)

Written in an almost chatty style, Drummond describes in detail just what can go wrong when purchasing major information management systems. The book is a strong potential lesson for all purchasing professionals involved in the management of major project expenditure ... For purchasers and project managers who do not want to end up in such a mess, this book is essential reading. (Supply Management)

...an enjoyable book to read, and you will learn a lot from it. - Daniel Read. Journal of Behavioural Decision Making. vol 11. 1998

From the Back Cover:

Getting projects going is one thing. Stopping them is another. This book examines how and why organizations become ensnared in disastrous decisions. The focal point is Taurus, the now notorious IT venture commissioned by the London Stock Exchange. Taurus was intended to replace London's antiquated share settlement procedures with a state of the art electronic system that would be the envy of the world. The project collapsed after three years' intensive work at a cost to the Stock Exchange and the City of London totalling almost (pound)500 million. The book is an absorbing study of what the author calls 'escalation' in decision-making-'persistence with a decision well beyond the point where a sensible person would give it up'. Such things can happen in any organization on any project, although some may claim that it happens disproportionately often with major IT projects. The Taurus project was nicknamed 'The Mad Hatter's Tea Party'. This book is a salutary tale of rationality, expertise, committees, and human failing. It will be of interest to all concerned with organizational decision-making, IT investment, project management and the workings of the British financial system.

• Publisher: OUP Oxford
• Publication date: 1996
• ISBN 10: 0198289537
• ISBN 13: 9780198289531
• Binding: Hardcover
• Number of pages: 268