The Project Controls Process Reengineering

Project Controls Process Reengineering

Why we have budget overrun?

The root causes: why do overruns happen?

What can we do about it?

What are the main factors for budget overrun?

Cost overruns have become an almost inevitable reality in project delivery. If we were to ask project management professionals, it is likely that more than?95%?would agree that delivering a project within the initially estimated budget is nearly impossible. Some would argue that this is because the initial budget is not a precise estimate even when prepared by leading firms like the Big 4. Instead, it is often based on assumptions, market trends, and high-level conceptual designs rather than detailed engineering or comprehensive data.

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