cost overrun

Thân thiện

The project manager presents a chart showing a significant cost overrun.

Definition

1. Noun:
   • Excess of cost over budget: A "cost overrun" is the amount by which the actual cost of a project, contract, or item exceeds its original estimated or budgeted cost.

Usage

• "Cost overrun" is a countable noun, typically used in business, finance, project management, and government contexts to describe a negative financial outcome.
• It is often used with verbs like , , , , , and .
• It can be modified by adjectives describing its scale, such as , , , or .

Examples

• The construction project experienced a significant cost overrun due to unforeseen material price increases.
• The government audit revealed a massive cost overrun on the new highway, requiring a review of the contracting process.
• To avoid a cost overrun, the manager implemented stricter budget controls.

Advanced Usage

• "to run over cost": This is a less common verbal phrase meaning to exceed the budget. It is related to the noun form.
  • The project is in danger of running over cost if we don't manage the subcontractors more carefully.

Variants and Related Words

• Budget overrun (n): A near-synonym, often used interchangeably with "cost overrun."
• Overrun (n): In a financial context, can stand alone to mean an excess over estimates, but "cost overrun" is more specific and common.
  • The final report detailed an overrun of several million dollars.

Synonyms

• Budget excess: The amount by which spending surpasses the budget.
• Cost escalation: An increase in costs, often implying it was unplanned.
• Overspend (n): The act or an instance of spending more than the allocated amount.

Related Phrases

• To exceed the budget: A verbal phrase with the same core meaning as experiencing a cost overrun.
  • The department was criticized for exceeding its budget by 20%.

Notes

• A "cost overrun" is a specific, measurable financial event, not a general state of being over budget. It refers to the calculated difference between the actual cost and the planned cost.

Học thuật

Noun

1. excess of cost over budget
   • the cost overrun necessitated an additional allocation of funds in the budget