- There are often a number of reasons factoring in to this, although the majority of project budgets that experience overrun are due to poor planning, combined with a lack of visibility in cost and budget management.
- However, these cost codes should be seen as a common language to describe the projects, making each one trackable for stakeholders including the management team, auditors, estimators, project managers and project engineers.
- It's surprising how much time project managers spend on project cost and budget management.
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