cost overrun

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  • noun

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excess of cost over budget

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References in periodicals archive ?
Triggering legal battles between the partners and the utilities that commissioned them, the projects have been mired in years of delays and cost overruns.
Despite these facts, contractor and government program managers often claim optimistically that dramatic recoveries from cost overruns are possible.
In the most recent project report from A-Lanes A15, the total cost overruns have risen from[euro]217 million to[euro]253 million.
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.
In our previous work, we have identified proven management practices--many of which have been incorporated into DOD policy, but have yet to be fully implemented in practice--that can serve as tools to prevent DOD cost overruns.
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.
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.
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.