OK, we need to dig deeper on this:
If it's a GREAT idea, why didn't Dilbert develop it on his own time so he could keep all the rewards?
Because it's a lousy idea, but PHB won't realize that and will do all the things he details above.
When Dilbert says it "might" be all of the above, he's really selling it so that PHB will own it when it comes crashing down. He can say, "Not my fault; I worked double time on this pig but it couldn't be saved."
Interesting how rxantos's previous comment has 90 negative points. This site must have been over-run by people who've never been in the business world and/or it hit a raw nerve with a hidden pocket of management consultant lurkers. He his 100% correct.
It might be all of those, it might also be none of those. How about your and the CEO go on to the edge of the roof and have a back patting competition? It'll reduce the workplace friction between you two.