anorlunda said:
The word impossible (lower case i) means Possible but so difficult that we can't imagine success. We cheer speeches from visionaries about "making the impossible possible."
I spent a lot of the latter part of my career on (usually large) government IT projects. I would ponder what percentage success you should be looking for?
Technically, we need to establish what we mean by success. An analysis that our company did showed that there was a clear split into projects that ran more or less to time and budget and then projects that bombed. These are the projects that either get abandoned, overrun by years and/or ultimately deliver much less than planned. There were projects in between, but there was a clear pattern of the two extremes.
The reality was that ideally no more than one project in ten would bomb. From a commercial point of view, if we make a margin of 20% on a successful project and a deficit of 100% on a failed project, then for ten projects at 10 units each with one failure we have:
Income is 10 x 10 = 100 units
Costs: (9 x 8) + (1 x 20) = 92 units
And that is sustainable. Although, if we didn't get paid anything for the failed project, then we would just about be breaking even.
The reality is that possible/impossible is not the issue for a large project. The reality is that it has to be almost certain of success (say 90%) to be viable.
This, IMO, was part of the problem with large government IT projects: the government departmemts would judge them as possible. And they themselves would use language like cutting-edge, world-leading, ambitious etc. Possible meant perhaps 20%-50% chance of success. Most, in my experience, fell into the "bombed" category.
In that sense, a commercial project to do something on Mars that had only a 10% chance of success would be technically possible, but commercially impossible to undertake.
Moreover, projects with only a 10% chance of success have a relatively high chance of complete failure. I.e. you deliver nothing and/or lose all your investment.
In that sense, these projects are almost impossible to finance because no one wants to go into a project where they expect to lose a lot of money. The 20% chance of success that looks like a golden opportunity to the research scientist looks like a commercial disaster to a corporation.