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WWW.EQUE2.CO.UK THE TOP BUDGET-BUSTING CONSTRUCTION PROJECTS OF THE 21ST CENTURY The World Cup stadia fiasco is the latest high-profile project where management failed to monitor costs and revenue.

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Construction cost management can go hopelessly wrong with expensive consequences, even on major projects. Time to learn from their mistakes.

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Page 1: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

THE TOP BUDGET-BUSTINGCONSTRUCTION PROJECTS OF THE 21ST CENTURYThe World Cup stadia fiasco is the latest high-profile project where management failed to monitor costs and revenue.

Page 2: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

AS THE WORLD CUP 2014 APPROACHED, BRAZIL’S CHAOTIC STADIA PROGRAMME WAS STILL LIMPING TO ITS LONG-OVERDUE CONCLUSION.

Page 3: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

AS THE WORLD CUP 2014 APPROACHED, BRAZIL’S CHAOTIC STADIA PROGRAMME WAS STILL LIMPING TO ITS LONG-OVERDUE CONCLUSION.

WITH THE $3.4 BILLION COST ALMOST 50% OVER FORECASTS, THE COUNTRY’S

CONSTRUCTION INDUSTRY IS PAYING A HEAVY PENALTY FOR ITS FAILURES.

Page 4: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

HOWEVER, MASSIVE CONSTRUCTION COST MANAGEMENT OVERRUNS ARE EVEN POSSIBLE FOR THE COMPANY WHOSE TECHNOLOGICAL NOUS HAS EARNED IT GLOBAL ACCLAIM - APPLE.

Page 5: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

HOWEVER, MASSIVE CONSTRUCTION COST MANAGEMENT OVERRUNS ARE EVEN POSSIBLE FOR THE COMPANY WHOSE TECHNOLOGICAL NOUS HAS EARNED IT GLOBAL ACCLAIM - APPLE.

STEVE JOBS UNVEILED PLANS TO CONSTRUCT A FUTURISTIC NEW HQ IN CALIFORNIA IN 2011 AND RECKONED IT COULD BE BUILT FOR LESS

THAN $3 BILLION.

Page 6: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

ALREADY, BEFORE WORK EVEN STARTS AT THE 100-ACRE SITE, THE ESTIMATED COST OF THE ‘SPACESHIP’ DESIGN HAS HIT $5 BILLION ...

AND IT’S THREE YEARS LATE.

http://www.businessweek.com/articles/2013-04-04/apples-campus-2-shapes-up-as-an-investor-relations-nightmare
http://www.businessweek.com/articles/2013-04-04/apples-campus-2-shapes-up-as-an-investor-relations-nightmare
Page 7: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

THE WEST COAST HAS ANOTHER BIG NAME IN THE CONSTRUCTION COST MANAGEMENT LEAGUE OF SHAME, AS THE $6 BILLION BRIDGE ACROSS SAN FRANCISCO BAY WAS A REMARKABLE

SIX YEARS LATE AND FIVETIMES OVER BUDGET.

http://www.reuters.com/article/2013/09/03/us-usa-california-bridge-idUSBRE98201X20130903
http://www.reuters.com/article/2013/09/03/us-usa-california-bridge-idUSBRE98201X20130903
Page 8: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

THE WAR OF WORDS BETWEEN THE US AND CHINA COVERS EVERYTHING FROM CYBER-SECURITY TO TRADE TARIFFS, BUT

THE LATTER CERTAINLY CAN’T CROW OVER ITS RIVAL’S DESIGN AND BUILD FAILURES.

Page 9: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

THE WAR OF WORDS BETWEEN THE US AND CHINA COVERS EVERYTHING FROM CYBER-SECURITY TO TRADE TARIFFS, BUT

THE LATTER CERTAINLY CAN’T CROW OVER ITS RIVAL’S DESIGN AND BUILD FAILURES.A CHINESE-OWNED IRON ORE MINE IN AUSTRALIA IS NOT FAR

BEHIND APPLE, WHEN IT COMES TO BUDGET-BUSTING AT NEARLY $8BN OVER BUDGET AND FOUR YEARS LATE.

http://www.forbes.com/sites/timtreadgold/2013/03/03/chinas-new-record-worlds-biggest-cost-blow-out-and-longest-construction-delay/
Page 10: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

SO HOW CAN CONSTRUCTION COST MANAGEMENT GO SO BADLY WRONG?

Page 11: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

Ego is a factor, as companies look to win prestige projects by bidding at under-cost or

on narrow margins.

SO HOW CAN CONSTRUCTION COST MANAGEMENT GO SO BADLY WRONG?

Page 12: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

However, failure to understand, calculate and accurately monitor the various cost-revenue streams remains the major influence on construction cost management failures, wherever the project is based - and whatever its purpose.

Page 13: The Top Budget-busting Construction Projects of the 21st Century

WWW.EQUE2.CO.UK

Make sure your construction projects aren’t budget-busting by reading our eGuide:

HOW TO SAVE MONEY ON CONSTRUCTION PROJECTS WITHOUT CUTTING CORNERS

DOWNLOAD NOW

http://content.eque2.co.uk/how-to-save-money-on-construction-projects-without-cutting-corners

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