How Cost Management Software Avoids Overruns and Hidden Costs
Why Projects Continue to Overshoot Budgets More Than You Know Picture this—you have a project worked out to the nth degree. On paper, everything seems fine, but somewhere during the process, costs get totally out of hand. Next thing you know, the budget you were so sure about is way short. Ring a bell? You are not alone. A report by the Project Management Institute explains that about 50 percent of all global projects exceed the budgeted costs, and unknown costs occur as one of the main causes. That's where Cost Management Software comes in handy. Rather than relying on chance with your project money, it provides lucid visibility, more intelligent tracking, and live updates. Simply put, it's having a financial security blanket that catches problems before they become budget catastrophes. The Quiet Drain on Finances: How Budget Overruns Start Small but End Big Most budget overruns don’t happen overnight. They sneak in slowly—maybe a resource cost wasn’t estimated properly, or m...