Cost Overruns
Cost overruns refer to the situation where the actual cost of a space or astronautical project exceeds the planned or budgeted cost. Cost overruns can occur due to various reasons such as technical difficulties, unexpected events, changes in requirements, delays, and poor project management. Cost overruns can have significant negative impacts on the project, organization, and stakeholders. They can lead to delays, reduced scope, quality issues, and even project cancellation. Cost overruns can also result in financial losses, reputational damage, and legal issues. Therefore, it is essential to identify, monitor, and control the cost overruns throughout the project lifecycle. This can be achieved through effective project planning, risk management, stakeholder engagement, and performance measurement.
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