The delayed, over budget infrastructure project has become so common, it’s almost considered an inevitability.
The scope creep and unforeseen circumstances that crop up during project construction are generally between 30-50% of the project’s overall schedule and budget.
So, completion in at around 30% over baseline has become an acceptable, even positive norm for projects as complex and enormous as airports, highways, bridges, ports, transmission lines and public transit initiatives.
Project planning teams have begun to proactively account for these overages in their project estimates. Accounting for some amount of resource allocation due to environmental concerns, permitting delays, claims, worker clashes and the like.
In actuality, the costs to both reputation and profitability caused by infrastructure project overages, can be avoided or reduced completely.