Cost overrun

A cost overrun, also known as a cost increase or budget overrun, involves unexpected costs incurred in excess of budgeted amounts due to an underestimation of the actual cost during budgeting. Cost overrun should be distinguished from cost escalation, which is used to express an anticipated growth in a budgeted cost due to factors such as inflation.

Cost overrun is common in infrastructure, building, and technology projects. For IT projects, a 2004 industry study by the Standish Group found an average cost overrun of 43 percent; 71 percent of projects came in over budget, exceeded time estimates, and had estimated too narrow a scope; and total waste was estimated at $55 billion per year in the US alone.

Many major construction projects have incurred cost overruns; cost estimates used to decide whether important transportation infrastructure should be built can mislead grossly and systematically.

Causes

Recent works by Ahiaga-Dagbui and Smith suggests a rethink of what is traditionally referred to as overruns in construction. They attempt to make a distinction between the often conflated causes of construction cost underestimation and eventual cost overruns. Critical to their argument is the point of reference for measuring cost overruns. Whereas some measure the size of cost overruns as the difference between cost at the time of decision to build and final completion costs, others measure the size of overruns as the difference between cost at contract award and final completion cost.This leads to a wide range in the size of overruns reported in different studies.

Bow Wow (rapper)

Shad Gregory Moss (born March 9, 1987), better known by his stage name Bow Wow (formerly Lil' Bow Wow), is an American rapper, actor and television host. As Lil' Bow Wow, he released his first album, Beware of Dog in 2000 at age 13, which was followed by Doggy Bag 2001. In 2003, Bow Wow released his third album Unleashed, which was the first album released without using Lil' in his name. As of September 27, 2015, Bow Wow had officially been signed to a new label, Bad Boy Records, which is owned by Puff Daddy.

Bow Wow made his first movie appearance in All About the Benjamins, in 2002 as a cameo. In the same year, Bow Wow made his debut as the lead role in Like Mike. He later began to undertake lead roles in movies, such as Johnson Family Vacation in 2004 and Roll Bounce in 2005. He also played a supporting role in the film The Fast and the Furious: Tokyo Drift in 2006. Bow Wow also appeared in five episodes of the television series Entourage. He is currently working on his new album entitled Underrated and stars as Brody Nelson in CSI: Cyber.