Over Budget! Scare tactic?

If you’ve ever read a project management book, you’ve run across the statistic that 50 – 70% of all projects are over budget.  Seen that, right?

What’s up with that?  More times than not, I would guess that is a tactic to hook you into something.  Maybe, it’s to buy a book.  Or, a take a webinar, or buy consulting services.  Look closely at the context the next time you see that.  I will too.  Now I’ve gotten myself curious.  🙂

But I wonder how they know.  First off, only organizations that track their projects (time tracking, resource tracking, etc) know if they are over budget.  And most people don’t do that.  Instead, they fly by the seat of their pants, relying on hunches.

Secondly, so what?  When your project is finished, you’ve probably happy about that, and don’t care to look back – unless you’ve taken a real black eye.  It’s usually the fit-and-finish that takes three times longer than anticipated, but you’re always proud of the final product.  So why worry about a little extra moolah.

How’s your project coming?  Is it over budget yet?