Why construction budgets rarely align with final costs
From massive megaprojects to smaller builds, staying on budget is notoriously difficult. This video explores the various factors that cause construction expenses to spiral beyond their initial estimates.
The discrepancy between predicted and actual costs is driven by a range of unpredictable variables. The video examines how preconstruction costs, rising inflation, and unexpected site conditions contribute to budget overruns.
It highlights that this phenomenon is not limited to megaprojects, but is a widespread challenge in the industry due to the inherent difficulty in anticipating the full complexity of a build.
Source: Why Construction Projects Always Go Over Budget
