Have you ever heard of this “ the popcorn phenomenon” it’s a term used by cost estimators and project managers and professionals that means a seemingly small change here, a seemingly minor delay there, and suddenly, your carefully crafted budget is overflowing like a bowl that forgot to stop popping.
The 3 major reasons for this problem are-scope creep, the addition of more and more small and minors’ details to the project during execution and finally the unforeseen delay which leads to more costs (permits, weather conditions, material delivery ….etc.)
How to solve this problem: 3 simple steps
Severe scope management (especially in infrastructure projects), continuous update and monitoring of risk assessment log and proactive risk management strategy including well revised contingency plans and finally clear and well organized communication plan that ensures transparency and engagement of all stakeholder form the beginning and before the popcorn burns!!!