Seven Mistakes that Will Kill Your Project’s Budget

March 7, 2022 - Author: Ted Allison, Project Manager and Greg Larson, Project Manager

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an engineer works on a budget for a facility construction project

If you’ve ever been responsible for a facility construction project, you know that managing the budget can be an especially daunting task. In the months between budget approval and project completion, any number of problems can rear their costly heads. Scope changes, material prices, even inclement weather can pile expenses onto the total.

Consider the following seven budget killers and learn about ways to make sure you don’t fall prey to them.

  • Incomplete design
  • Shortcutting the budgeting process
  • Ignoring historical data
  • Applying solutions that don’t scale
  • The wrong balance between optimism and realism
  • Rework
  • Scope creep

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