Cost overruns are basically expected in construction projects.
Research in the Journal of Construction Engineering showed that where public projects were concerned, the bid cost and the final cost typically differed by 0.15% on jobs under $25, 000 and 3.24% on projects over $1 million. However, projects don’t just end up over-budget. This white paper reviews some of the common causes of overruns and how they can be managed through technology.
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