Cycle glossary

Sunk Cost is a term used in product management to describe costs that have already been incurred and cannot be recovered. It's like buying a concert ticket and then realizing you can't attend the concert. The money you spent on the ticket is a sunk cost because you can't get it back. In product management, it's important to recognize sunk costs and not let them influence future decisions. Just because you've invested a lot of time or money into a feature or project doesn't mean you should continue down that path if it's not delivering the desired outcomes.