cost overrun

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excess of cost over budget

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References in periodicals archive ?
Despite these facts, contractor and government program managers often claim optimistically that dramatic recoveries from cost overruns are possible.
This preliminary agreement to resume works does not imply a negotiation on the alleged cost overruns claimed by the contractor,'' the canal administration, known as the ACP, said in a statement.
Key projects in the offshore sector, which accounts for a fifth of Norway's GDP, have run into huge delays and cost overruns in recent years, reducing government revenue and prompting a government investigation.
The outlook may be revised to 'Positive' if the company completes the project without any further significant time and cost overruns, and achieves better-than-expected tie-ups with potential customers, resulting in adequate offtake levels and revenue visibility.
Turkey announced that it would not pay extra money for the cost overruns.
From 2000 to 2007, auditors who examined major US weapons contracts found that cost overruns added up to $295bn - a 700 per cent increase during the administration of George Bush, Obama's predecessor - while delays rose from 16 months to 21 months.
Mars Science Laboratory will be the largest and most capable rover yet to ramble across the Red Planet--assuming that further cost overruns don't kill it entirely.
Technical complexity accounts for an ever-increasing percentage of weapons' cost overruns, according to Deloitte.
Owners wishing to reduce the likelihood of cost overruns and claims should avoid AIA form contracts and instead use agreements that include the protections discussed above.
The cost overruns will not affect Grosvenor's intention to complete the scheme.
Swan Hunter has been criticised for the late delivery of the two and cost overruns which have seen the pounds 148m price rise to pounds 236m, but owner Jaap Kroese has staunchly defended the yard's record.
Recovery of the cost overruns will be pursued where possible," Skanska added.
Provincial auditor Erik Petrers criticized the government in 2002 for cost overruns and technical flaws that included the issuance of cheques for individuals who were not on social assistance.
The failure to plan for spectrum dependency in the research and development stages--and the resulting discovery of spectrum-related problems shortly before deployment--have produced delays, cost overruns, and in some cases, useless (and very expensive) systems that cannot be fixed for combat operations.
The program provides up to 10 years of coverage insuring against cost overruns stemming from unknowns such as erroneous cost estimates, changes in regulatory requirements, and unforeseen contaminants.