Overrun
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Overrun
In the context of project financing, the amount of capital expenditures or funding above the original estimate to complete the project.
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We have asked that all such cost overrun be submitted to the Ministry,' the Honourable Minister of Transportation stated.
Shanmugapriya and Subramanian (2013) highlighted that India also faced problems a serious issue of time and cost overrun in construction projects.
logit[Pr(Y=GAO total program over budget cost overrun)] = 3.20--0.98(MPT word percentage)
In a recent interview, Skanska USA Building's COO Richard Kennedy said "no one knows if the building is going to leak." Skanska estimates cost overruns for the 32-story building could amount to tens of millions of dollars.
Likewise, Malaysian construction industry is also affected by cost overrun burdens.
Cost overrun (Actual Cost--Planned Cost) / 100 Planned Cost
Lessons of extensive time delays and construction shortfalls learned from the Central Artery Tunnel Project, better known as "The Big Dig," seem lost in the four years since 2007 when that $14 billion project faced $12 billion in cost overruns and ran years behind schedule.
Expressing concern over time and cost overruns in some Central Sector Projects, Jaiswal said it is major problem affecting these projects, however due to monitoring by his Ministry the cost of overruns has come down from 62 per cent in 1991 to 13.9 per cent in December 2009.
BERLIN, Feb 1, 2010 (TUR) -- Talks on the cost overruns in the Airbus A400M military cargo plane project, between client countries and European Aeronautic Defence and Space Company (EADS) will continue on Thursday in Berlin, announced German Ministry of Defense.
implemented to address the root causes, the analysis forecasts that in 10 years the average cost overrun may exceed 46 percent, up from 26 percent today," says the Deloitte study.
Chicago officials have disclosed an approximate cost overrun of USD400m for the first phase of the renovation and expansion of Chicago's O'Hare International Airport.
The traditional contract procurement has been widely criticized as an ineffective procurement method because it often involves time and cost overrun on construction projects.
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