No matter how carefully you plan things, surprises always happen.
As project managers we need to ensure we are effectively managing our budgets and spending the money in a responsible manner whilst stilldelivering high quality results. Despite all the strategies and tools at our disposal, there are still a high number of projects that end up over budget, some drastically so, many of which have fallen victim to the nasty surprises our projects often present us with. Here are four of the most common things that project manager’s report as having completely blown their project budget.
There is not much that can blow a projects budget in quite the same way as a rework can. Whatever the reason for the rework, doing the work all over again will invariably cost the same is it did to do it in the first place. Not only that, but it’s guaranteed to drain staff morale….