Preventing Cost Overruns when Offshoring
What are Cost Overruns?
At its core, a cost overrun occurs when a project exceeds its planned budget, often due to unforeseen expenses or inadequate planning. The impact on profitability can be severe, limiting your ability to pursue innovation or invest in new markets
To avoid cost overruns in projects, it’s essential to understand their root causes: inaccurate estimates, scope creep, and poor communication between onshore and offshore teams are some of the most common causes of cost overruns.