This is the part 2 in the series Killing A Project. Read about part 1 here.
Straight Answer for the question of who: An executive sponsor needs to make a decision on stopping/killing a project.
Organization can give that task to a steering committee, CIO or even to an auditor.
But I believe that those people lack the responsibility as well as authority essential to make this type of significant decision.
The executive sponsor is the one who fits into those requirements.
A project manager can convince stakeholders about why it is better to kill the project than keep working on it. PM can follow following steps to present his opinion about killing a project.
PM should collect financial info regarding the project and explain why it’s a good idea to kill it
PM can explain the impact of killing the project to the organization
Accept the responsibility of the project and should not blame anyone for the failure.
Make a business case.
PM can suggest alternatives and tell them where he/she can use the released resources.