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The state in which the final cost of the project exceeds the original estimates is referred to as cost overrun. It is thought that there
The state in which "the final cost of the project exceeds the original estimates" is referred to as "cost overrun." It is thought that there should be an average rise of roughly 33% in construction projects. Nine out of ten projects passed the predetermined estimates, and 50100% excesses were hypothesised to be common and had a constant for the 70 years during which data was available, according to a thorough study on cost overruns in international construction projects. Describe the FIVE (5) variables that contribute to cost overruns in building projects and how the Value Management (VM) strategy can help to reduce the issue
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