Identifying Hidden Costs
This Never Enough Money segment is really about poor planning.
Our experience evaluating project activities shows that most projects are poorly planned and one consequence is that during execution, project teams often run into additional unbudgeted project activities. Getting additional funding (see NEM blog posted 06/13 about decision making) takes time, irritates the management team, there is a scramble to secure resources and puts budgetary pressure on all other aspects of the project work.
To be honest, we are not sure why this happens as frequently as it does. But the root cause is poor planning at the outset, so make sure you allocate sufficient time and analysis to your planning work, it saves money in the long run.