“10 best practices to keep your IT project under budget” on TechRepublic, May 17, 2018.
Nearly all IT projects face a similar major challenge: Budgets. Only about half of all projects end up completed under budget, according to the Project Management Institute.
This is largely because often, budgets are estimates based on what is known when the project is started, said Alan Zucker, founding principal of Project Management Essentials. “We expect project teams to deliver definitive estimates at a time where there is still a high-level of uncertainty,” Zucker said. “More accurate estimates and budgets can be calculated after the scope and requirements are better understood. By that point, most project budgets have already been established.”