Why Construction Projects Always Go Over Budget — Practical Engineering

Why Construction Projects Always Go Over Budget — Practical Engineering

3/26/2023

link

https://practical.engineering/blog/2023/3/21/why-construction-projects-always-go-over-budget

summary

In this blog post, the author discusses the common phenomenon of construction projects going over budget. The article explores several factors that contribute to this problem, including inaccurate cost estimates, unforeseen challenges during construction, changes in project scope, and delays. It also highlights the role of human factors, such as poor project management and communication, in causing budget overruns. The author emphasizes the importance of accurate planning, realistic cost estimates, and effective project management to mitigate this issue. Overall, the article provides insights into the reasons behind cost overruns in construction projects.

tags

project objectives ꞏ project budgeting ꞏ project scope ꞏ project controls ꞏ project performance ꞏ project reporting ꞏ construction industry ꞏ project risk ꞏ cost management ꞏ project delivery ꞏ project documentation ꞏ project accountability ꞏ cost overruns ꞏ project resources ꞏ infrastructure development ꞏ project analysis ꞏ project progress ꞏ project efficiency ꞏ project management ꞏ financial planning ꞏ project optimization ꞏ risk management ꞏ construction delays ꞏ project team ꞏ project coordination ꞏ project financing ꞏ project strategies ꞏ construction management ꞏ project success ꞏ construction projects ꞏ project delays ꞏ project oversight ꞏ project monitoring ꞏ project implementation ꞏ project governance ꞏ project metrics ꞏ project execution ꞏ project profitability ꞏ project scheduling ꞏ project stakeholders ꞏ project leadership ꞏ project decision making ꞏ project milestones ꞏ project evaluation ꞏ project cost management ꞏ cost estimation ꞏ project effectiveness ꞏ budget management ꞏ project communication ꞏ project constraints ꞏ project planning ꞏ cost control ꞏ project outcomes ꞏ engineering projects ꞏ project tracking